Finally, it has happened. The bubble has popped in Seattle. Wash DC had its celebrated Bubblicious Bench, now I give you the Bubblicious Fence. Behold:
I count 7 lockboxes on the fence, and it's not even Spring Selling Season yet!I know this building. I lived here. It's in Lower Queen Anne, a fashionable area just north of downtown. I moved to this building in 2000, coming from Chicago to work at a dotcom called Onvia on Lake Union.
I rented a tiny 407 sq ft studio unit for $1000/mo, with a nice view of downtown, Mt Rainier, the Space Needle, and the Olympic mountains. It was all the space I needed, and I was seldom home, always out hiking or climbing in the mountains, or at work.
A couple of years ago, the Athena went condo, and some fool bought my tiny studio for $215K, or $528/sq ft!
I'll keep tabs on this situation throughout the spring. Seattle, you have finally arrived! Welcome to Deflation Land! Congratulations, Athena!
