Condos in West Seattle

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  • #588340

    OlMom
    Participant

    As the news of the financial crisis continues day after day, I look around West Seattle and see large condo building after large condo building being constructed. Add to that, all the plans for more condos – above the Admiral Safeway for example. My two questions are these:

    Who is going to live in these condos?

    and

    Which banks/mortgage companies are going to lend the money to people for these condos?

    #642998

    Diane
    Participant

    many of these will be apts, much needed as folks lose their ability to buy homes/condos

    ~

    I think Admiral Safeway is planning apts, not condos

    #642999

    cjboffoli
    Participant

    OlMom: Your question seems to assume that the financial trends of the current market downturn will never reverse. The investors behind these projects are no doubt taking a long view that, despite the immediate pain, the projections for population growth in Seattle (and the need for a more densely built environment) still show a strong upward trend. Your new neighbors might speak Chinese, Russian or Arabic but I assure you that SOMEONE will eventually fill those buildings.

    #643000

    Keith
    Member

    Uh, couldn’t your current neighbors also speak Chinese, Russian or Arabic?

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