I’m puzzled why affluent individuals choose a $19k monthly rental. Is there a financial benefit or strategy in renting over building home equity?
Affluent individuals often choose to rent for reasons beyond the obvious monthly expense. In my experience, the flexibility that renting offers is paramount. It allows them to shift priorities rapidly without being tied down to a mortgage or property market risks. Additionally, renting can provide access to premium amenities and a level of service that some private homeowners might not enjoy. The liquidity freed up from not having a significant portion of capital tied into real estate investments can be deployed elsewhere for potentially higher returns.