Living in Seattle can be quite discouraging. Housing prices are terrible, and they continue to get worse.
I'm currently living in what the owner advertises as a four bedroom house but the city would consider a one or two bedroom. It's small. It has no closets. And frankly, it needs a lot of work. Back in Wisconsin, you might be able to get $80,000 for it ($90,000 on a good day; maybe $120,000-$140,000 in Madison or Milwaukee).
They're advertising it for $350,000.
Worse yet, TONS of people are coming by to see it.
One bedroom apartments rent for as much as a house payment in some cities. $800-$900 per month is not unusual if you want to have a place to park your car. Downtown, that price would be excellent for a studio with no parking.
One bedroom condos are selling for $200,000. And don't let the word "condo" make you think of a nice, multi-story, multi-unit dwelling with a tended yard and other amenities. Condos here are not the same as in the midwest. Here, a condo refers to an apartment that you buy, with the added burden of monthly update fees ("dues").
As a not-quite-so-young person (at least at heart) not making a tremendous amount of money per year, I can't see how I could ever afford a house here. It's undoubtedly my midwestern mind, but the idea of west coast "condo" life repulses me, and I have no interest in buying a house with the knowledge that I'll be needing renters for the next thirty to forty years to cover the payments. While I like my friends and am building a social network here, I don't see how I can stay for long. I can't imagine what the responsibility would be like if I were married.
Ugh.
Posted by jonhanneman at June 25, 2005 4:54 PM | TrackBack