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The demand is also being seen in Marin County, right across the Golden Gate Bridge from San Francisco.
Last year, the phones at Foundation Rentals & Relocation office were ringing constantly with high-end homeowners wanting to rent property that they couldn't sell, but no one was interested in renting them.
Now the firm is getting calls from executives, especially in the technology sector, looking to move into a rental.
"They're entrepreneurs. They would rather put their cash in their business," says Darcy Barrow, who founded the firm with her husband Christopher Barrow.
"And get a greater return," adds Christopher. end quote from:
Rich Americans Ditch Home Ownership For Renting
However, for people who own their homes or condos or estates outright and only need to pay utilities and taxes to keep their homes the outcome might be very different. However, if you are buying a house with a mortgage this might make sense especially if you are an entrepreneur and and can make much better money elsewhere rather than putting money into a home, condo or estate.
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