Housing crisis forces people to pull out all the stops
One man has come up with a creative solution to the housing crisis.
Rather than hedging his bets and trying to buy a traditional land-based home in his hometown of San Diego, Austin Wells decided to buy a condo on a cruise ship.
Speaking to CNBC, Welles explained that he had spent $300,000 (£238,000) to purchase the studio on MV Narrative.
For that price, he can lease the space for 12 years and have access to the ship's amenities, including a private gym, farmer's market, medical facilities and a private kitchen.
He also has access to the ship's 24-hour room service, schools, library, bank, cinema, swimming pool and 20 different restaurants on the ship.
Although the ship is still under construction and won't set sail until 2025, it is expected to accommodate 500 apartments and rooms.
Wells' space is expected to be 237 square feet, which will include a desk, shower, pantry and roll-out bed.
“What excites me most is that I don’t have to change my daily routine in order to see the world,” Wells said.
“My hours will shift to evenings, nights and early mornings, but this does give me the ability to see a city from noon to afternoon.”
The 28-year-old continued: “This may be the first time ever that you can afford to have a standard job or even consider working and living in a floating apartment building.”
According to The Sun, Wells' plan would actually be cheaper than renting in his hometown.
An apartment in San Diego costs $2,500 (£1,980) a month, while a room on MV Narrative costs just $2,000 (£1,587) a month, the outlet said.
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