Seattle Bubble

An example of a $2.5 million property in Seattle:

• 4-bed, 4.5-bath 2-story in Magnolia
• 4,440 sqft
• 5,029 sqft lot
• 2008 property tax bill: $18,286
• “sweeping sound and mountain views”

An example of a $2.5 million property in Wisconsin:

• 2-story stone lodge in Couderay
• 407 acres
• 37-acre private lake
• 2008 property tax bill: $14,948
• 8-car garage
• guard tower
• “massive fireplace, a caretaker’s residence and other outbuildings”

Oh, and the second one happens to be formerly owned by one Al Capone.

When I do finally decide to jump into the housing market, I think I’d be doing myself a disservice not to seriously consider other parts of the country where your housing dollars seem to go a bit further than they do in Seattle.

Hat tip: Calculated Risk.

P.S. – Yes, I realize the $2.5 million price tag on Capone’s hideout is the starting bid for a foreclosure auction which is not really directly comparable to the price of a MLS-listed home. This post is meant to be light-hearted. Note the “Humor” tag.