Kyle C. Garrison

Robert Lanter lives in a 600-square-foot house that can be traversed in five seconds and vacuumed from a single outlet. He doesn’t have a coffee table in the living room because it would obstruct the front door. When relatives come to visit, Mr. Lanter says jokingly, but only partly, they have to tour one at time.Each of these details amounts to something bigger, for Mr. Lanter’s life and the U.S. housing market: a house under $300,000, something increasingly hard to find. That price allowed Mr. Lanter, a 63-year-old retired nurse, to buy a new single-family home in a subdivision in…

Parisians are already grumbling about the crowds for this summer’s Olympics. They envision sweaty tourists jamming the subway cars, making the hell of commuting even more, well, hellish. They are planning their summer escapes; at worst a “télétravail” schedule to work from home.But not Ivan Buyukocakm. Glancing out at a corner known for drug dealing near his family’s kebab shop in the low-income district just north of Paris, he sees the upcoming Olympics as heralding something totally different: opportunity.“They are redoing the streets and refurbishing buildings,” said Mr. Buyukocakm, as a woman in a thin coat dragged a grocery trolley…