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High Earners are Moving Toward Renting Instead of Buying


When you think about renters, you don’t usually think about people with lots of money. Don’t they all own homes? Think again.

A report from Harvard’s Joint Center of Housing Studies says that the fastest growing group of new renters includes people age 50 and older and younger people raking in six-figure salaries.

More people earning big bucks are choosing to rent rather than buy. About 13.3% of renter households made more than $100,000 in 2016. That's up from 9% in 2006.

One of the reasons for renting is that some high earners are still burdened by student loans and, therefore, cannot afford a down payment on a home. And many are attracted to progressive, walk-friendly cities where dog paths are as popular as Avocado Toast. For these folks, leasing a loft seems much more interesting than buying a home.

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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