I read in the paper the other day that there are now luxury downtown condos selling for a measly $2.5 million. That is quite a few pesos (27,222,500) and even more rupees (115,012,504). The story all around Seattle is that houses and condos are selling for silly amounts of money and that it is causing all sorts of trouble for folks of both the buying and renting persuasion.
I didn’t need anyone to tell me that though, all I needed to do was walk around for ten minutes and see that there are condos being built on every other block. This is just barely an exaggeration. What’s more is that they say that the price surges are over now because, like everywhere else, demand has declined. The paper also said that “experts” believe while prices won’t increase here they will stay where they are. I wonder though… if demand is decreasing and a ton of condos are just barely starting construction it would seem like prices would go down a bit. Saturation and all those fun things. I’m no expert though.
Mostly I wanted to talk about this so I could show you this photo. I’m not sure what they are building, but its foundation will be very deep. The photo was taken from street level, so this is probably something like 40 feet deep. To me it almost looks more like an excavation site than a construction site, but no one has found dinosaur bones in Washington yet, so I doubt that is it. Still one can hope.