We Need More Housing: Coffin Homes in California
The incredible shortage of US housing supply (the most recent figures show less than 500k active listings) is leading to a disturbing trend. Coffin homes are coming to the US.
Just like the infamous "coffin homes" in Hong Kong, American businesses are renting out what they call "sleeping pods", which are essentially filing cabinets for human beings to sleep in.
We often discuss the repercussions of this dearth of housing supply on GRE. Prices are driven up, rents are driven up, and on a more personal level, so is homelessness. This is like one or two rungs below a Manhattan studio apartment and one rung above homelessness.
The most important repercussion of the housing supply crash is its effect on peoples ability to have a dignified existence and this "pod" or "coffin" home trend certainly puts that in question more than ever.
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