US EditionMore Wealthy Phoenix Residents Choosing to Rent Homes
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More Wealthy Phoenix Residents Choosing to Rent Homes
PHOENIX — A growing share of high-income residents in the Phoenix area are choosing to rent instead of buy, according to a new report from Redfin. Nearly 8% of renters in the region now earn more than $160,000 per year. Rising home prices, limited housing inventory, and the flexibility of renting are pushing even wealthy individuals away from homeownership. The Valley’s ongoing housing… Source
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