There is quite an uproar here in Ballard about the Lock Vista being converted to condos. Our little neighborhood paper has a great article on this.
And the tidbit that stands out to me: Ballard has experienced 242 condo conversions in the last two years. I'm not sure if that's units or buildings, but either way, there's a ton of people who were give 90 days and $500 to find a new place to live. Oh sure, the tenants are given the option to purchase the new condos but those are going to go for $300,000. For 500 square feet.
And, along those lines, there was an article in the Seattle Times yesterday that was just deflating. The median single family home price in Seattle has now topped $500,000. A person would have to earn $119,000 a year to be able to afford to buy a home here. Even condos are at $250,000.
Are you kidding me?
Seattle is fabulous and all, but it looks like if I want to ever buy a home, it's going to be somewhere else. Asheville, NC perhaps........