As housing prices continue to escalate, at least one Las Vegas-based company offers a product that won’t break the bank.
Boxabl has created a building system that’s easily scalable for mass production that makes the houses it manufactures extremely affordable — provided buyers have a place to put them. Container Beach House
And if they’re good enough for the world’s wealthiest man, who wouldn’t want to give them a shot?
Tesla Inc. Elon Musk paid $50,000 for one of three Boxabl prototypes. Musk had the 375-square-foot Casita delivered to the SpaceX testing grounds in Boca Chica, Texas.
The 20-foot by 20-foot home is similar to a studio apartment. The foldable homes are eight feet wide when they ship and can be unfolded at the buyer’s location in less than an hour.
Each Casita includes a full-size kitchen with all appliances, a bathroom with a toilet, shower and sink, a living room, a bedroom and a washer and dryer. Heating and air conditioning also are included.
Boxabl signed a deal with the U.S. Department of Defense for an initial order of $9.2 million and earlier this year announced a partnership with homebuilder D.R. Horton Inc. that includes an order for 100 units and investment in the company.
Boxabl’s mission is to lower the cost of homeownership for everyone, and it’s launched a crowdfunding campaign on StartEngine to help it achieve its goal of producing housing in much the same way most modern products are mass-produced — on an assembly line.
See also: Top Startups to Invest in for October
Boxabl already has received interest for more Casitas than it can produce for the next several years. It has more than 100,000 reserved Casitas that could translate into $1 billion in revenue, according to the company’s StartEngine page.
It’s also seeking franchise partners to help it expand as housing prices continue to soar. Boxabl will provide its branding, quality control, intellectual property, custom equipment and raw materials to its partners who will start their factories around the world.
Median U.S. home prices were up 6.7% to $406,074 in August compared to the same month last year, according to Seattle-based residential real estate brokerage Redfin Corp.
And as prices rise, consumer demand for smaller living spaces is soaring. The increasing popularity of backyard accessory dwelling units (ADUs) is being propelled by new laws in municipalities across the country that streamline the permitting process and allow them in more places.
The tiny homes market share is expected to increase by $3.57 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a compound annual growth rate of 4.45%, according to global market research firm Technavio.
Rentberry, the startup that is expected to disrupt the rental market, has now raised over $11.4 million through its current funding round on StartEngine.
Almost Half Of US Adults Face Stress - This Company Believes Its Wearable Tech Is The Answer
Beauty Brands Closing the Gap Between Women and Crypto
Trump Has 21 Days To Declare Which Mar-a-Lago Documents He Wants To Keep Off-Limits In Criminal Probe
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
If you love Halloween, music, and food, this month is for you, here are some fun things to do this October.
Hunting seasons are beginning in Pennsylvania. Here's what you need to know to be safe and legal in Penn's woods.
The chart, from Redfin, shows how higher mortgage rates and a pullback in buyer demand, has forced sellers to cut prices to entice bids.
Most economists are forecasting home-price appreciation to slow, with others predicting deeper price drops.
The average rate on a 30-year fixed-rate mortgage now sits at 6.92%, the highest it has been since 2002.
'I don’t feel that we can or should afford to pay 45% of our take home income towards housing when we have a baby on the way.'
These two real estate investment trusts offer dividend yields that are more than 3x the S&P 500 index's 1.8% yield.
The housing market has done surprising things over the pandemic. When the economy took an especially tough hit, in 2020, the housing market did not follow suit. Mortgage rates hit all-time lows of...
“If only ...” Those are words spoken by investors who regret investment decisions they made in the past that didn’t turn out so well. Many real estate investors purchased properties at a peak in prices in 2007 thinking that the market would continue to go up, up and up. Some panicked and sold their properties during the tail end of the Great Recession in 2009 — often at a tremendous loss. As investors witness how the real estate market has more than rebounded in the past 13 years, they may say,
Zillow: "Across the country, affordability challenges have pushed potential buyers to the sidelines. Of course, this demand destruction has been more pronounced in some markets than in others."
As inflation soars and the cost of living keeps creeping higher and higher, people looking to retire may find themselves wondering where they can possibly live on a fixed income at this stage of their...
This remodeled, concrete-block house, located in Daytona Beach neighborhood, would make a great starter home or investment property.
The builder expects to open up sales in the fall or winter, but pricing and floor plans are not yet available.
The shelter component of the Consumer Price Index makes up 30% of overall inflation and 40% of core CPI.
The eight-acre compound known as Byrdview is a popular Hollywood filming location
A prefab, or prefabricated, home is often an affordable alternative to a traditionally constructed home. See what experts have to say about this type of home.
Home buyers feeling financially squeezed by higher interest rates are increasingly being steered by real estate agents and mortgage brokers to potentially
Rent-to-own is one approach to buying a home, but it's not a conventional approach. You'd be out all of the extra rent you paid during your lease term and wouldn't end up being able to buy the property after all.
NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the "REIT") announced today that the Trustees of the REIT have declared a distribution of $0.06667 per unit for the month of October 2022, representing $0.80 per unit on an annualized basis. The distribution will be payable on November 15, 2022, to unitholders of record as at October 31, 2022.
Prefab Garden Rooms It makes sense that this year's elevated home prices and surge in mortgage rates would create an increase in renters at the expense of homeowners. RentCafe, an apartment-search website, found that among 1,553 zip codes it analyzed in 50 major cities, 101 switched to renter majority from homeowner majority between 2011-2020. The number of renters rose 12% between 2011 and 2020, compared to a 4% increase in homeowners, according to the Census Department.