The rise of the wealthy renters – In San Francisco more households making over $150K/yr choose to rent than own.
ByOne of the typical lines lobbied by cane wielding house humpers is that renters are low income households that simply have no choice but to rent. The implication is subtle on some fronts but others choose to use a 4×4 of clarity by saying renters are simply poor people. Clearly these Taco Tuesday Jimmy Buffet loving fans have failed to take a look at rental rates in San Francisco. They also use an outdated model of the world where Don Draper was the model of success puffing away long and hard on that cigarette. Even in “prime” neighborhoods I am surprised at the lack of tech knowledge by some of these people living in million dollar homes. Some folks just have a hard time seeing that they bought a lucky scratcher at the right time. In fact, new data shows a rise in wealthy renter households. And in places like San Francisco, there are actually more households making over $150,000 per year that choose to rent than own. Clearly a household that is pulling in $150,000 or more a year is not “dumb” or low income…
