As Boston condo for sale prices jumped and confusion in which direction the economy is heading followed in tandem, those with means seem to be opting to rent a Boston apartment.
Once upon a time, renting was the norm for those who were saving towards a down payment and homeownership. But even the wealthiest Americans are turning into 'forever renters.'
From 2018 to 2022, the share of renters with a $750,000 annual income rose to 10.5 percent, according to data from IPUMS at the University of Minnesota.
For households with a net worth ranked in the top 5 percent, the share of renters jumped to 3.7 percent in 2022, per the Federal Reserve's Survey.
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