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Fools And Their Money

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…

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