The Expert Podcast

so is this the future of real estate to save money for work force housing. in lake worth Florida which is part of Palm Beach one of the most affluent areas of Florida they're looking at creating micro apartments to help with soaring rents. in lake worth micro apartments will include total square footage of between two hundred and fifty feet and seven hundred feet with a fully functioning kitchen and bathroom. they're doing this to try to get housing for work force whether they're police fire teachers food service that kind of thing and this is what their solution is. what do you think about this. put your comments below would this work in your part of the country think about it two and a fifty square feet is the size of you know a large master bedroom in some houses. even five hundred square feet is a size of a large living room in some houses or family room. granted if that's what you need to do to get the rents low then you have to do that. these apartments are supposedly going to rent for about a thousand Bucks maybe twelve the Bucks. in reality even with mortgages this the way they are you could probably buy a two hundred thousand dollar house for mortgage payment not much more than that and own the house. house is probably little bigger too at least a thousand square feet. do the check out our channel for some previous videos. if gonna spend that much anyways why not have a house. now granted if you move a lot and you're gonna switch to another city maybe buying house isn't the best thing in the world. but these micro apartments are they good for the area are they good for consumers are they good for investors what do you think. and if you were going to live in one of these micro units what is is that going to help the economy of the area with these people spend money in the area will help the tax base. it may help employers but do we need more work force for that type of industry right now. we probably do for first responders for teachers the question is is this the answer in is going to work financially is gonna be a viable financial model for whoever builds this whether it's the government or some private company. will this model be sustainable for income and also for the condition of the property in the long run. we have that pride of ownership that'll keep it in good shape and will the management cost be higher than what it takes to run a normal market rate apartment. put your comments below let us know what you think.