Capsule · The news app for modern leaders

Trends and Insights

Download
illustration image for the article
16 Jan 2024

High Earning Americans Are Becoming Forever Renters

The trend of 'forever renters' in the U.S. [is growing](https://www.wsj.com/economy/housing/the-rise-of-the-forever-renters-5538c249) due to sustained high interest rates and a preference for luxurious rentals. Homeownership in the U.S. sits at 64%, low compared to China's 89% and Brazil's 72%. Notably, 4,453 renter households reported incomes over $1 million in 2022, up from 2017's figure. Typical Families with an income of over $120,000 choose to rent over owning, using savings for personal luxuries and travel.