As housing costs skyrocket and the demand for affordable homes surges, builders across the U.S. are constructing entire blocks of single-family homes specifically designed for renters. These so-called built-to-rent communities can offer another option for those who want a home but cannot afford to buy one.

Texas resident Richard Belote says his rented home 90 minutes from Houston is a “good stepping stone, because interest rates are “just too high to manage.” Despite saving diligently to buy a home, he and his fiancee feel priced out of their house hunt.

“Just really kind of crossing our fingers that those rates go down,” he said.

Belote is far from alone.

A July CNN poll found 86% of renters say they can’t afford to buy a home and 54% say they believe it’s unlikely they’ll ever be able to. However, another poll found 81% of renters want to own a residence in the future.

“House prices have gone up by more than 40% in just four years,” said CBS News business analyst Jill Schlesinger. “There are a lot of people out there who really, really want to be in homes, and they just can’t afford to get there,” Schlesinger said.

Built-to-rent communities began in Phoenix during the Great Recession to meet that demand. They are higher density and smaller cottage-sized homes — a literal cottage industry now spreading in cities across the Sunbelt, including Phoenix, Atlanta and Dallas.

Brent Long leads the build-to-rent expansion for Christopher Todd Communities in Arizona. He says the renters range in age from Gen Z to Baby Boomers.

“It’s really renters by choice and renters by need,” Long said.

When asked if the concept goes against a more traditional view of buying a home to achieve the American Dream, Long said, “I don’t think it takes it away. It solves some issues that are out there in terms of affordability, availability.”

Cassie Wilson rents by choice in Phoenix, Arizona. She says the “perfect” arrangement allows her to enjoy many amenities without the homeownership responsibilities.

“I can live here in a house that is fully up kept by someone else. I would like to buy a house out here. But on the flip side, I still want to travel,” Wilson said.

Though a growing industry, these built-to-rent communities made up only 7.9% of new residential constructions last year, according to Arbor Realty Trust. 

Arizona housing advocates warn that the properties are not enough to push prices down, but welcome anything that helps to address the housing shortage.

Back in Texas, Belote said he wakes up every morning and enjoys his backyard with the dogs and his cup of coffee. It’s a home-sweet-home as he waits for a break in the housing market. 

Kris Van Cleave

Emmy Award-winning journalist Kris Van Cleave is the senior transportation correspondent for CBS News based in Phoenix, Arizona, where he also serves as a national correspondent reporting for all CBS News broadcasts and platforms.

Egyptian archaeologists unearthed a sword earlier this month which was marked by ancient pharaoh Ramses II, Egypt’s Ministry of Culture and Tourism said. 

The bronze sword with engravings of the cartouche of the Egyptian king was buried for more than 3,000 years in an ancient military fort known as Tell Al-Abqain, located in the Beheira Governorate in northeast Egypt, south of Alexandria, the Egyptian government said in a Sept. 6 news release. 

Known as Ramses the Great, the pharaoh ruled Egypt from 1279 B.C. to 1213 B.C. and is credited with expanding Egypt’s reach as far as modern day Syria to the east and Sudan to the south. A Nineteenth Dynasty pharaoh, Ramses’ influence and riches spread throughout Egypt as evidenced by archaeologists’ recent finds detailing his long-lost empire. 

Archaeologists found a temple in 2017 dedicated to the pharaoh in the Badrashin area in Giza. Last year, 2,000 rams’ heads were found at the temple of Ramses II, which Egyptologists said showed the endurance of his impact.

Part of a statue of the great king — his head and chest — were found in the Temple of Kom Ombo during a project to protect the site from groundwater. 

Al-Abqain — where the sword was discovered in mud barracks — also housed soldiers and contained warehouses for weapons, food and supplies, said Dr. Ahmed Saeed El-Kharadly, who led a group of archaeologists excavating the area. Large pottery remnants containing fish and animal bones and crock pots used for cooking were found along with personal items such as ivory, agate jars, and red and blue beads.

The fortress was situated to protect Egypt’s northwestern border from attacks by Libyan tribes and Sea Peoples, the Egyptian government said.

Archaeologists said they also uncovered a cow buried in the barracks. Cows were an ancient Egyptian symbol of power, abundance and prosperity. 

There were also two blocks of limestone, one of which had a hieroglyphic inscription of King Ramses II.