https://www.wsj.com/articles/what-10-000-a-month-can-rent-you-in-los-angeles-new-york-and-other-markets-11657742293

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, 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.

We are delighted that you'd like to resume your subscription.

You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service.

Please click confirm to resume now.