re: #61 Anymouse

Aside from the New York Times detailing the plight of the ultra-rich having to explain inheritances to their children, there’s this:

They Could Buy, but Why? Meet the High-Renters, where they go into the plight of the ultra-wealthy renting instead of buying property.

Home owning makes sense for families who plan to stay in one place while children attend school. For those without kids, especially young, upwardly mobile singes, the freedom and flexibility of renting weighs more heavily against the tax advantages.