W

[coup999]

W

[synthetik]

If that guy is for real he's a massive tool.

[Matthew]

Yuppies can't afford 2200... RIIIIGHT. All they need is a 80/20 or IO loan and they can afford pretty much anything!

[Lake Hills Renter]

I couldn't care less who lives at 2200 Westlake. Greater Fools, maybe? How many times are you going to pimp for your blog, coup? Starting to smell like spam.

[coup999]

Not spam if I'm actually adding value to the housing bubble debate. It's clear that that the owners at 2200 are empty-nesters and people nearing retirement, not the freespending Yuppies that have bid up the bubble. I think if that trend continues, yuppies will step aside and you'll see more empty nester/retirees moving into downtown. Remember, Mirabella is a retirement community going in just a block down.

I'm not an anti-bubble. I actually believe there is a bubble. BUt I think we should consider this darkhorse that may come and save the housing market in condos (empty nesters)

[Matthew]

Coop,

I live downtown, and find it hard to believe that retirees would be heading downtown in droves. Why would people in their golden years want a faster pace of life, wading through bums during the day and the noise of 20-30 year old drunkards at night. I dunno about you, but the majority of people I know tend to want to move somewhere quiet and peaceful to live out their golden years. Not wade through street vomit and discarded 40 oz bottles of Miller High life.

[coup999]

Matthew - That was my thinking too. But in practice that has not been the case. If you look at Mirabella, it is going to be a few hundred units for seniors.

Also, if you look at the people moving into the new expensive condos in Cap Hill, South Lake Union, etc, most are older (at least 40's, mostly 50's).

I can't explain why they're choosing city instead. I suppose they're tired of living in the suburbs for the kids and now want an exciting life. Just because old people are old doesn't mean they want to be boring. Most of these baby boomers want the excitement factor of vling in a city.

Think about the new Four Seasons residences that start at 2M. That's not going to be some hot shot exec in his 30's buying it, because his equity is already tied up. It's going to be a wealthy retiree in his 50's buying it.

[synthetik]