Elon Musk Sells All His Properties And Moves Into Tiny $50,000 Shack

It's located within the premises of his private space exploration company SpaceX, and it actually arrived there on the back of a truck.

The pre-fabricated housing unit is just 400 square feet, and Musk has said it'll be his primary home.

Writing on Twitter, Musk responded to someone who had commented on his modest lifestyle.

They had tweeted:

In response, Elon posted: "My primary home is literally a ~$50k house in Boca Chica / Starbase that I rent from SpaceX.

"It's kinda awesome though.

"Only house I own is the events house in the Bay Area. If I sold it, the house would see less use, unless bought by a big family, which might happen some day."

The foldable property is made by a company called Boxabl, and the mini house is its Casita model.

The 20x20 units can be purchased on the company's website for $49,500 (£35,530) or as little as $250 (£180) per month and are potentially an option to solve the country's housing crisis. The homes can be constructed in less than a day.

"Affordable housing is virtually extinct, and the number of rent-burdened households - those spending 50% or more of their monthly income on rent - is higher than it's ever been.

"What was already a problem before the pandemic has turned to a full-on crisis, as families face job insecurity and city budgets are dwindled by the urgency of the pandemic.

"An adequate solution to the housing crisis is a solution that offers more people affordable housing without the cost of expanding city infrastructure or the environmental toll of creating urban sprawl.

"We believe our Boxabl units are well positioned to do just that."