Monday, July 9, 2007

Unlikely Homes

"A cave home, which wouldn't look out of place on the The Flintstones, has sold for a whopping £100,000 - four times the asking price.

Aptly-named Rock Cottage, which is hewn out of a sandstone cliff with three other adjoining caves, was last occupied in the late 1940s.

The cave, built in the 1770s has no electricity or water supply and whether it would be suitable for habitation is questionable, say experts."

Source: Daily Mail

"A closet-sized apartment without electricity is on sale for £170,000. Anywhere else this dilapidated studio might not have attracted such price. But this is London, where a 77 foot-square former storage room is being marketed as an investment property in the exclusive Knightsbridge neighborhood.

A coffin-sized shower is en suite, and storage is provided by a shallow closet and 10-inch deep shelves cut into the wall. Two hot plates and a small sink make up the kitchen. Two dirty windows allow the light to filter into the basement apartment, and the fire escape could conceivably double as a shared patio.

With no electricity or functional heating, Scott said it would cost as much as an additional £30,000 to make the room habitable."

Source: International Business Times

My friend, Peter Davis, is convinced that the there is a worldwide housing bubble: he sent me the piece about the cave last week and the closet sized apartment in February.

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