Bunking: Creating Affordable Housing Solutions All Around the World

The cost of living is at an all-time high. No matter where you’re living, you’re probably experiencing inflation. Gas prices, grocery bills, and home and rental costs are all through the roof. In an attempt to find affordable housing in addition to a rise in popularity amongst the circular economy, shared living is on the rise. People everywhere in all social classes are searching for economical ways to live, and build communities. 

Housing conditions influence our quality of life. Not only do accommodations provide shelter, security, privacy, and space to learn, grow, and relax but housing also impacts our community. Where we live determines our local environment, our recreational opportunities, our access to public services, food, healthcare, and educational and work opportunities. Safe, secure, and affordable housing is the key to living a fruitful life and finding a home is becoming increasingly more difficult, especially for younger generations. 

Is supply keeping up with demand? 

According to a study by Harvard University, almost 40 million Americans live in homes they can’t afford. The number of Americans that own homes has gone down and rental prices continue to rise meaning millions of people are inhabiting homes that they can’t afford to keep. 

Consumers are increasingly choosing to rent over buy as demand continues to surge in an extremely competitive market. Increased mortgage rates, affordability constraints, increased construction costs, and a wider acceptance of transient lifestyles are all factors that have contributed to an increased demand for more affordable housing. In short, supply is not keeping up with demand and affordable housing is becoming increasingly more difficult to find. 

Is shared living the next affordable housing solution?

Christine McDannell, co-founder and CEO of Kndrd and author of The Coliving Code, states that "Co-living is the leading answer to our global urban housing crisis. Not only does it solve the cost and spatial demands associated with housing, but it also addresses the intimate aspects of human connection that have been lost. Loneliness rates have doubled in the past 10 years, and rent costs have gone up much more than that. It's very rare that a single solution can solve a complex multi-pronged issue like housing, but co-living truly does.”

Shared living not only provides affordable solutions, but innovative alternatives. Bunking combines cutting edge technology with trust and safety standards to remove common pain points and bring shared living into the digital era. For the first time ever, consumers from all around the world can leverage state-of-of-the-art technology to form genuine, human-to-human connections through shared living. 

What makes shared living attractive amongst consumers? 

At its core, shared living is built on three main principles; cost or affordability, convenience, and community. Not only do these principles appeal to individuals that are looking for economical accommodations, but they also appeal to the growing number of remote workers that are eager to live location-independent lifestyles. 

Convenience is achieved through shared living by providing an all-encompassing solution to renters or guests. Shared living, or more specifically the Bunking marketplace allows members to source vetted people to stay with, while providing accommodations that are furnished, and fully functional depending on the desired interest. 

Additionally, community is achieved by fostering an inclusive environment that connects like-minded people with similar interests. At Bunking, this is done by ensuring the collective group of people that will be sharing a space are hand-picked by a Host that takes everyone’s commonalities, and comprehensive user profiles into consideration. This sense of community helps to eradicate loneliness and social anxiety. 

How is Bunking solving the housing crisis? 

In short, Bunking is making affordable housing accessible to people around the world. Bunking is a social marketplace that is connecting like-minded people through flexible shared living stays and once in a lifetime travel experiences. We’re leveraging cutting edge technology to connect you with a group of strangers that feel more like life-long friends while providing you with an affordable housing solution.  All members in our marketplace will be vetted, and you will have the ability to choose who you share your stay with based on shared interests, comprehensive user profiles, background checks, and reviews.