That’s no box, that’s mYPad

Published On December 13, 2013 | By Joseph (Ken) | Debt, Economy
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A couple weeks back I looked at what some are doing in New York as a way to deal with high rental costs Renters take heart, New York has the answer

“As the most expensive city in the country gets even pricier, Cintron and other New Yorkers are taking drastic steps to survive the most brutal real estate market in the United States. They are ditching sky-high rents and buying secondhand recreational vehicles.”

This week we are looking at a solution to the same problem in the UK My home rocks, but it’s only a box: Soaring rents force Londoners to live in shipping containers

“A London charity has imported steel containers from China and converted them into bargain basement homes, as part of a novel solution to try and solve homelessness amid soaring rents in the British capital.

“A hostel in east London has come up with the ingenious idea of converting a shipping container from China into a tiny low cost home for hard up and desperate Londoners.”

Modular buildings isn’t a new concept, Nanaimo has a business that offers similar products including living quarters Big Steel Box Structures

“Our living quarters display home showcases a high-end finish that would be more commonly found in a high-end condominium. The intent is to demonstrate just how comfortable workforce accommodation can be. Of course, the level of finishing can be designed to meet the needs of the end user, while still meeting the customer’s budget.”

Thanks to loose monetary policies and low interest rates, housing prices are beyond the reach of most twenty and thirtysomethings and these “out of the box” solutions may become a very real alternative.

When you consider that the average home in 1950 was 983 square feet, a 800 square feet studio home in the form of a modular home (steel structure) isn’t that inconceivable.

 

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About The Author

Joseph (Ken)
(Ken) is a Registered Public Accountant with over 25 years of public practice experience in the accounting profession. Ken specializes in accounting information systems, taxation and financial reporting.

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