For some, renting, instead of buying, makes financial sense, even when the rent is $10,000 per month. “Not everyone has the American dream of wanting to own something.'
July 14, 2022 8:00 am ET, makes financial sense, even when the rent is $10,000 per month. “Not everyone has the American dream of wanting to own something, and in cities like New York, what you can afford and what you want don’t always align,” said James Curnin, CEO and founder of Clara Homes, a Miami-based real-estate firm.
This is especially true for noncash buyers. “Those who are looking to take out mortgages are watching the interest rates and recognize that it’s become more expensive to buy right now. Renting is a great option for people who want to wait out market conditions,” said Mr. Curnin.
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