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But thats the situation in the housing market here at the end of 2024.
Here are seven reasonswhy even these wealthy people are opting to rent right now instead of buying.
With money to burn, some millionaires are opting to simply rent until things free up again.
Millionaires are finding its simply cheaper to rent than to buy at the moment.
The current mortgage rate for a 30-year fixed mortgage is around 6.38% at the high end.
Since downsizing, Ive cut the time I spend on chores in half.
And we love living with less clutter after discarding and donating many pieces of clothing and furniture.
They may wish to put their money into other higher-yielding investments.
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