Condo complex goes up in flames
Fire In West Seattle Was Arson
Was the fire set because some deranged hippy was upset or possibly because the developer was upside down on the property?
I'm sure we'll be seeing a lot more of these. It's not always so easy to just "walk away" from your debt obligations as Cramer has suggested.
Also, if this is a multi unit complex and it was completely destroyed, why only $625K in damages?
The Friday morning blaze that engulfed a three-story building in West Seattle was intentionally set, the Seattle Fire Department reported Saturday.
The fire caused $625,000 in damages and destroyed the building, which was under construction, department spokeswoman Helen Fitzpatrick said.
Was the fire set because some deranged hippy was upset or possibly because the developer was upside down on the property?
I'm sure we'll be seeing a lot more of these. It's not always so easy to just "walk away" from your debt obligations as Cramer has suggested.
Also, if this is a multi unit complex and it was completely destroyed, why only $625K in damages?
Comments
If I was a developer looking to get my first sales by year-end and actually start filling units next spring, yeah, I might hire someone to accidentally tresspass and start a fire.
OOOOh, that is exactly the position my building and the condo conversion specuvestors are in...
Glad I finally found another place in-city to rent--after spending most of my free time all summer looking, that is actually not too shabby for the money. I consider myself very fortunate, in the short term.