‘Co-living’ housing is ridiculously pricey

‘Co-living’ housing is ridiculously pricey
Hey, and $2,100 a month will get you a shared bathroom too. (Image: Robert Kneschke, Shutterstock)

[Ed. – OK, so that’s my own headline.  These people are spending as much as or more than the (nationwide) average monthly mortgage payment to live in a glorified dormitory.  Talk about a RACKET.]

A building in pricey West London will soon take this new trend in dormlike dwellings to a new level. Co-living spaces are typified by individual bedrooms, sometimes tiny ones, mixed with an abundant package of shared amenities. The 550-unit Old Oak, whose size makes it the world’s biggest co-living property, debuts next week to its first residents, according to the Spaces.

Of course, the 11-story building gives a special nod to the city’s millennial population, which Curbed says values turnkey convenience. There are small-but-furnished bedrooms and shared kitchens, but it’s the rents that speak more highly to young folks not earning much: Rents range from the equivalent of $327 to $582 per week. Citywide, average rents are reported to be over $2,100 per month. …

On this side of the pond, shared office provider WeWork launched WeLive on Wall Street in downtown Manhattan, which similarly has shared lounges, kitchens and dwellings with Murphy beds. Prices begin at $1,375 monthly…

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