Hong Kong has one of the worst housing crises in the world, and has been ranked the least affordable city for housing for the last eight years.

Hong Kong architect James Law has designed a low-cost solution to the problem: stackable, retro-fitted water pipe "tube homes" called "O-Pods" that could be rented cheaply to young people.

Hong Kong has one of the worst housing crises in the world, with property prices so high that a single parking spot sold for $664,000 last year and all but the wealthiest are stuck renting tiny apartments with an ever-proliferating range of colorful names: micro-flats, nano apartments, coffin apartments, and cage homes.

It's gotten so bad that the city has been ranked the least affordable city for housing in the world for eight years running, according to the Annual Demographia International Housing Affordability Survey.

Law designed and built the prototype for the O-Pod in less than a month.

"The big dream of mine is not necessarily me doing it, but a global community of people who share the same values using this as an open source design to share around the world," Law said.

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