Why Wealthy Austinites Are Choosing to Rent Instead of BuyPosted by Alex Lewis on
A peculiar housing trend has emerged in Austin and many other cities across the United States in the last few years. The trend disrupts what many thought was an inseparable correlation: high-income families prefer buying homes instead of paying rent. The vast majority of affluent families, until lately, were homeowners. As soon as they had the means to begin building equity in their own home, these individuals took the real estate plunge into home ownership.
But lately, this eons-old trend has diminished substantially. According to data released by Rent Cafe, the trend for high-income households to rent is on the rise.
The number of high-income households who choose to rent has increased by a whopping 217% from 2005 to 2015 across the United…
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