Wealthy people are less likely to stay put in one place I think. Thus, there's a demand to rent multimillion dollar units for 1-3 years at a time, but not neces

Wealthy people are less likely to stay put in one place I think. Thus, there's a demand to rent multimillion dollar units for 1-3 years at a time, but not necessarily own one. Poor or average people buy a house in order to save money on rent. Rich people don't care about that amount and can easily get their stuff moved with company money. They recover the rent vs mortgage cost via increased flexibility.