Connect with us

Current

Elon Musk’s ‘main home’ is now a tiny 375 square foot prefabricated rented house worth just $50,000 

Voice Of EU

Published

on

Elon Musk, the world’s third richest man, is living in a tiny home worth just $50,000 on the SpaceX site in Texas

Over the past year, Musk has sold most of his real estate portfolio and listed his final property last month. 

The 50-year-old revealed in a tweet that he now resides in a modest rented home at his company’s Boca Chica, Texas, launch site that is worth just $50,000 – less than the cost of a base Tesla Model S.

‘My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,’ he wrote, saying he also had an ‘events house’ in the Bay Area.

The entrepreneur, listed by Forbes as the world’s third richest man with a fortune of $167.3billion, is believed to be living in a 375-square-foot modular home made by the company Boxabl, according to the Musk fan blog Teslarati and the Houston Chronicle.

Though Musk has not confirmed the name of the company that made his home, a Boxabl unit appears to be visible on the site on Google Earth.

The company’s homes are tiny but stylish, set up like a studio apartment with an open plan living area, kitchen and bedroom, with an adjacent bathroom. 

The properties are assembled from a folded box made of concrete panels and steel.

Elon Musk, one of the world's richest men, is living in a tiny prefab house on the SpaceX site in Texas, according to reports. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

Elon Musk, one of the world’s richest men, is living in a tiny prefab house on the SpaceX site in Texas, according to reports. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The 50-year-old revealed in a tweet that he now resides in a modest rented home on his company's Boca Chica, Texas launch site, worth just $50,000 - less than the cost of a base Tesla Model S. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The 50-year-old revealed in a tweet that he now resides in a modest rented home on his company’s Boca Chica, Texas launch site, worth just $50,000 – less than the cost of a base Tesla Model S. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The entrepreneur is believed to be living in a 375-square-foot modular home made by the company Boxabl, according to the Musk fan blog Teslarati and the Houston Chronicle. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The entrepreneur is believed to be living in a 375-square-foot modular home made by the company Boxabl, according to the Musk fan blog Teslarati and the Houston Chronicle. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

'My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It's kinda awesome though,' he wrote in early June, saying he also had an 'events house' in the Bay Area. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

‘My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX. It’s kinda awesome though,’ he wrote in early June, saying he also had an ‘events house’ in the Bay Area. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The company's homes are tiny but stylish, set up like a studio apartment with an open plan living area, kitchen and bedroom, with an adjacent bathroom. Pictured: A model of a Boxabl Casita

The company’s homes are tiny but stylish, set up like a studio apartment with an open plan living area, kitchen and bedroom, with an adjacent bathroom. Pictured: A model of a Boxabl Casita

Teslarati reported that the model Musk, who is said to be worth $167.3 billion, is renting is a mass-produced 20 feet x 20 feet ‘foldable prefabricated home,’ named the Boxabl Casita. 

Boxabl has not confirmed whether Musk is living in one of its homes but in November announced it had built a Casita for a ‘high-profile’ and ‘top secret’ customer in Boca Chica.  

The Las Vegas-based company set up in 2017 with the aim of building homes that could be shipped anywhere.

Co-founder Galiano Tiramani told the New York Post: ‘The goal of the company is to mass-produce housing on a scale and at a cost that’s never been done before,’ Galiano added. ‘We want to make housing dramatically more affordable for the world.’

The Casita model was the first of the company’s designs and, in a possible nod to Musk, the company has demonstrated it being configured for use on Mars.  

The company has also pitched the use of its housing units as a means to expand Starbase, Teslarati reported. 

Boxabl has not confirmed whether Musk is living in one of its homes but in November announced it had built a Casita for a 'high-profile' and 'top secret' customer in Boca Chica

Boxabl has not confirmed whether Musk is living in one of its homes but in November announced it had built a Casita for a ‘high-profile’ and ‘top secret’ customer in Boca Chica

Though Musk has not confirmed the name of the company that made his home, a Boxabl unit is appears to be visible on the site on Google Earth (above)

Though Musk has not confirmed the name of the company that made his home, a Boxabl unit is appears to be visible on the site on Google Earth (above)

Over the past year, Musk has sold most of his real estate portfolio and listed his final property last month [File photo]

Over the past year, Musk has sold most of his real estate portfolio and listed his final property last month [File photo]

Last summer, Musk began selling his real estate portfolio, saying he intended to give up most of his assets to focus on his mission to Mars. 

‘I am selling almost all physical possessions. Will own no house,’ the entrepreneur tweeted in May 2020. 

Musk listed his last remaining home, a California Bay Area mansion for sale in June for $37.5 million.

The home is on Crystal Springs Road in Hillsborough, and was used chiefly as a rental space for events, he said. 

Musk said he would like to sell it to a large family who will live there. ‘It’s a special place,’ he tweeted. 

Musk had gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million.

He said he was doing it as a way to defuse criticism of his wealth, telling podcast host Joe Rogan last May: ‘I think possessions kinda weigh you down. And they’re kind of an attack vector. People say, ‘Hey, billionaire, you got all this stuff.’ ‘Well, now I don’t have the stuff — now what are you gonna do?” 

Boxabl set up in 2017 with the aim of building homes that could be shipped anywhere. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

Boxabl set up in 2017 with the aim of building homes that could be shipped anywhere. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The company has pitched the use of its housing units as a means to expand Starbase, Teslarati reported. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The company has pitched the use of its housing units as a means to expand Starbase, Teslarati reported. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

Musk has gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

Musk has gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million. Pictured: A Boxabl Casita similar to the one Musk is said to be renting

The announcement that Musk is selling his mansion on Crystal Springs Road means he has nearly rid himself entirely of his properties i

The announcement that Musk was selling his mansion on Crystal Springs Road meant he has nearly rid himself entirely of his properties in California

Source link

Current

Facebook admits high-profile users are treated differently

Voice Of EU

Published

on

Facebook’s oversight board said the social media company hadn’t been “fully forthcoming” about internal rules that allowed some high-profile users to be exempt from content restrictions and said it will make recommendations on how to change the system.

In the first of its quarterly transparency reports published Thursday, the board said that on some occasions, Facebook “failed to provide relevant information to the board,” and in other instances the information it did provide was incomplete.

For example, when Facebook referred the case involving former US president Donald Trump to the board, it didn’t mention its internal “cross-check system” that allowed for a different set of rules for high-profile users.

Facebook only mentioned cross-check, or XCheck, to the board when asked whether Trump’s page or account had been subject to ordinary content moderation processes.

The cross-check system was disclosed in recent reporting by the Wall Street Journal, based in part on documents from a whistle-blower.

The journal described how the cross-check system, originally intended to be a quality-control measure for a select few high-profile users and designed to avoid public relations backlash over famous people who mistakenly have their posts taken down, had ballooned to include millions of accounts.

The oversight board said it will undertake a review of the cross-check system and make suggestions on how to improve it.

As part of the process, Facebook has agreed to share with the board relevant documents about the cross-check system as reported in the Wall Street Journal. – Bloomberg

Source link

Continue Reading

Current

Green mortgages may leave owners of older homes unable to sell

Voice Of EU

Published

on

Estate agents warn owners of older homes, rural houses and listed properties could struggle to sell under green mortgage plans

  • Boris Johnson has unveiled his plans for turning Britain green by 2050 
  • The plans include proposals on how to make the housing stock greener 
  • The plans would see lenders disclose the energy performance of properties










Homeowners living in older, rural and even listed properties risk being unable to sell if strict green finance targets are introduced, estate agents have warned.

The warning comes after Boris Johnson unveiled his plan for turning Britain green by 2050 this week, with mortgage lenders having targets for the energy performance of properties in their portfolio.

A body that represents estate agents across Britain claimed that the property market could be distorted as a result of the measures and called for Britain’s historic housing stock to be taken into account.

Boris Johnson revealed proposals on how to make the housing stock greener this week

Boris Johnson revealed proposals on how to make the housing stock greener this week

Timothy Douglas, of Propertymark, said: ‘Incentivising green improvements to properties via lending creates risks of trapping homeowners with older properties, those who live in rural areas, listed buildings or conservation areas, making their homes difficult to sell and therefore reducing the value.’

Propertymark said that those living in older properties could be left with homes that they could not sell if buyers were unable to secure finance on them due to their lower energy efficiencies.

The effect would be likely to be felt more by less wealthy owners, as deep-pocketed buyers would be more able to overlook mortgage restrictions and high-end older homes would continue to be desirable.

Mr Douglas said: ‘The use of targets could distort the market and sway lenders towards preferential, newer homes in order to improve the rating of their portfolio.

‘Stopping a large portion of housing stock from being able to enter the market could cause havoc for home buying and selling as well as the wider economy.’ 

He added that improving the energy efficiency of homes should be reliant on consumer choice and not something enforced by mortgage lenders, with all the knock-on effects this could entail.

He said: ‘We would be concerned if lenders raise rates and limit products because fundamentally, improving the energy performance of a property is reliant on consumer choice and it is not the core business of mortgage lenders.’

Mark Harris, of mortgage broker SPF Private Clients, said: ‘The green agenda is not new but there is increasing impetus behind it. There are more green mortgage products aimed at those purchasing more energy-efficient properties – A-C rated, and not just from specialist lenders but the high street banks too.

‘However, there is a real danger that green initiatives could create the next round of mortgage prisoners if homeowners are trapped in older homes that can’t be improved, so they can’t move because they can’t sell them on.

‘Without changes or improvements, lenders may restrict lending to lower loan-to-values, higher pricing, or not lend at all. This could penalise those who are unable to adapt to or adopt new efficient technologies economically.’

A UK Finance spokesperson said: ‘Greening our housing stock is vital if we are to meet our climate change obligations and banks and finance providers are committed to helping achieve this goal and making sure consumers are not left behind.’

Ways to boost energy efficiency  

Propertymark recommends three measures to improve the energy efficiency of homes without negatively impacting the housing market.

1. Improvements linked to an EPC

These include linking a plan for energy efficiency improvements to the recommendations on a property’s Energy Performance Certificate.

It could demonstrate the ‘most suitable route’ to a warmer home, regulatory compliance and zero carbon, according to Propertymark.

2. Tax breaks

It also recommends using tax breaks to incentivise homeowners to finance energy efficiency improvements.

For example, these could include making energy improvements exempt from VAT or offering lower rates of council tax for homes that have been made more energy efficient.

3. Adjustable tax rates

An adjustable rate of property tax that is tied to energy performance is also being recommended by Propertymark.

This could be done in two ways, it suggested. First, by applying the adjustment as a reduction on more energy-efficient properties. And second by offering rebates to buyers if energy efficiency improvements are made to less efficient properties within a certain time period after purchase.

Propertymark said that by linking energy performance with property taxes, this could help introduce increased saleability for more energy-efficient properties. In addition, it suggested that improvements would become standard for homeowners seeking costs and improve the desirability of their homes.

Advertisement



Source link

Continue Reading

Current

Johnson rules out face masks as UK’s daily Covid cases rise above 50,000

Voice Of EU

Published

on

Daily coronavirus cases in Britain have risen above 50,000 for the first time since July, but Boris Johnson said he will not bring back compulsory face coverings or introduce vaccine passports.

Speaking in Northern Ireland, the prime minister said his government was holding firm to its policy of no legal restrictions introduced in July, but was watching the numbers carefully.

“The numbers of infections are high but we are within the parameters of what the predictions were,” he said. “We are sticking with our plan.”

Mr Johnson acknowledged the “patchiness” of Britain’s vaccination programme, urging people to come forward for their booster jabs as soon as they are invited to do so. But Labour leader Keir Starmer said the government should beef up the programme, ensure that more children were vaccinated and aim to deliver half a million jabs a day.

“The government said that the vaccine would be the security wall against the virus and now the government is letting that wall crumble,” he said.

“We’ve seen those that most need it not able to get the jab they need. Only, I think, 17 per cent of children have got the vaccine. And the booster programme has slowed down so much that at this rate we’re not going to complete it until spring of next year. So the government needs to change these, it needs to get a grip. I think it needs to drive those numbers up to at least 500,000 vaccines a day.”

Vaccine passports

The British Medical Association (BMA) accused the government of “wilful negligence” in not bringing back some restrictions, and of failing to learn the lessons of a parliamentary report last week about its handling of the pandemic. The association’s chairman, Chaand Nagpaul, said doctors could say categorically that it was time to bring back compulsory face masks and to introduce vaccine passports.

“By the health secretary’s own admission we could soon see 100,000 cases a day, and we now have the same number of weekly Covid deaths as we had during March, when the country was in lockdown,” he said.

“It is, therefore, incredibly concerning that he is not willing to take immediate action to save lives and protect the NHS. ”

Health secretary Sajid Javid warned this week that some restrictions could be introduced if the public failed to exercise caution and to take up vaccination offers. He acknowledged that Conservative MPs could show an example by wearing masks in the House of Commons, but house leader Jacob Rees-Mogg on Thursday rejected the suggestion.

Crowded spaces

“There is no advice to wear face masks in workplaces. The advice on crowded spaces is with crowded spaces with people that you don’t know. We on this side know each other,” he told the SNP’s Pete Wishart.

“Now, it may be that he doesn’t like mixing with his own side, wants to keep himself in his personal bubble. He may find the other members of the SNP – who I normally find extraordinarily charming…but we on this side have a more convivial fraternal spirit, and for our calling the guidance of her majesty’s government.”

Source link

Continue Reading

Trending

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates 
directly on your inbox.

You have Successfully Subscribed!