Wanna know where the housing market is in Seattle?

1,500 people lined up yesterday to try to buy studio condos in downtown Seattle.

Unremarkable in and of itself, until I give you the specs:

296 square feet. $150,000.

That's 17.2 feet on a side, kids. Just a hair under six paces.

Want a little more room to stretch out? You can have 394 square feet of your very own for $203,950. You could take an unprecedented seventh pace.

They had 251 of these available. That's roughly six applicants for every unit. They're 80% sold out, and they won't even be finished building them until 2008. They haven't even STARTED yet; the building currently occupying the space has yet to be demolished.

Me? I'd just be excited to buy a new refrigerator. Not because I need the refrigerator, mind you, but at this rate all I'll be able to afford to live in is the box... posted at 8:17 AM | Permalink |