Housing costs have become so expensive in some cities that people are renting bunk beds in a communal home for $1,200 a month. Not a bedroom. A bed.
PodShare is trying to help make up for the shortage of affordable housing in cities like San Francisco and Los Angeles by renting dormitory-style lodging and providing tenants a co-living experience. A PodShare membership allows you to snag any of the 220 beds -- or pods -- at six locations across Los Angeles and one in San Francisco. There's no deposit and no commitment. You get a bed, a locker, access to wifi and the chance to meet fellow"pod-estrians.
What you don't get? Privacy. But that's an easy trade-off, say the mostly young people who live there. Read MoreStephen T. Johnson, the 27-year-old founder of FlipMass, an advertising company for Instagram influencers, says he can afford his own place in San Francisco, but doesn't want to be locked into renting a tiny, overpriced apartment."I had a micro studio that was $1,750 per month," says Johnson."It was less than 200 square feet.
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This bunk bed in San Francisco rents for $1,200 a month - CNN VideoPodShare is a co-living space where tenants pay $1,200 a month to rent a 'pod,' or bunk bed, in one of its San Francisco or Los Angeles locations
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