Hugh Bancroft III, a member of the Bancroft family that owns Dow Jones & Co., publisher of the Wall Street Journal, buys Duke Cunningham’s house for $2.6 million.
The house appreciated a mere 2% over two years.
Back in August, before the bottom fell out, Duke put it on the market for $3.5 million.
In other news of Cunningham’s lack of prescience, this article from the San Diego Union-Tribune reports that in 1995 Duke “co-authored a bill called the “No Frills Prison Act” to prevent ‘luxurious’ prison conditions. The bill prohibited unmonitored phone calls, in-cell TVs, coffee pots or hot pots, viewing of R-rated movies, food better than what enlisted Army personnel get or unauthorized hygiene products or clothing.”
It didn’t pass.
