New Mexico Entrepreneur Creates Innovative Low-Cost Housing Alternative

New Mexico Entrepreneur Creates Innovative Low-Cost Housing... (Added: September 26, 2008)

It's a tough time for the economy, and the housing industry, in particular. Now, an entrepreneur from New Mexico has a creative idea for low-cost housing. (more)

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New Mexico Entrepreneur Creates Innovative Low-Cost Housing Alternative

It's a tough time for the economy, and the housing industry, in particular. Now, an entrepreneur from New Mexico has a creative idea for low-cost housing.

By: CNN | WJBF-TV
Published: September 26, 2008

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Albuquerque, NM -- It's a tough time for the economy, and the housing industry, in particular.

Now, an entrepreneur from New Mexico has a creative idea for low-cost housing.

Albuquerque home builder, Brian McCarthy, and three partners, have built a prototype house out of a standard 320-square-foot shipping container. Each small home would contain a kitchen, a bathroom with a toilet, and a sleeping area.

The partners plan to convert about 3,000 containers into homes, next year, and sell them for about $8,000 apiece.