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Your apartment rent too high? Why not live in a closet.

Posted by: Prashant Gopal on June 11, 2009

I’m never going to complain about the size of my Manhattan apartment again. A man in Delray Beach, Fla. is renting out a closet above a restaurant for $150 a month, according to WLBZ 2 in Maine.

He furnished the 77-square-foot space for about $64 and equipped it with a microwave oven and mini refrigerator. He shares a bathroom with other renters in the building.

(Thanks to NPR’s Planet Money for pointing me to this site.)



BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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