City of San Francisco tells man he can't live in wooden box in friend's living room

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Illustrator Peter Berkowitz published an editorial in the Guardian explaining why he chose to spend $400 to live in a (cozy) wooden "pod" he made with the help of a friendly designer and another friend who was a woodworker, assembling it in the living room of a pal who charged him $400/month to house the pod (tl;dr: The rent's too damn high, with a smattering of anti-regulation philosophy) Read the rest

U.S. home ownership rates drop to lowest level in 48 years

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U.S. homeownership rate is 63.4%, the lowest since 1967. Bloomberg blames it on a combination of "stringent mortgage standards and wage growth that hasn’t kept up with surging home prices." As a result, rental vacancy rates a falling and rental rates are increasing. Read the rest

London property bubble entombs a thousand digger-machines

London's property bubble has got people energetically expanding their property, digging out sub-basements -- and the insane bubblenomics of London housebuilding are such that it's cheaper to just bury the digger and abandon it than to retrieve it. London's accumulating a substrate of entombed earthmoving machinery. Read the rest