The Atlantic has a couple of interesting posts on spending habits of the top and bottom 1%. The huge jump in rent payments for the poor was surprising. The rich are spending tons on their children’s private schools.
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Apt. 11d 
Why was the jump in rent surprising? It’s no surprise to me; there’s a lot fewer rental units available in my city in comparison with the 1980s. I moved here in 86 (from a real economic hellhole) and was able to get a one-room for $160 a month—only 50% of my monthly income for rent. That building is condemned now. Most of the other similar units were torn down years ago. No one is building rental units here because there are more profitable investments for that kind of money. The pay of the lower-income people isn’t high enough to pay the kind of rent that speculators want to charge. So they invest their money elsewhere, and low-income people play musical chairs with the remaining older-stock rentals, or stay in a welfare motel or homeless shelter or crash with relatives until they get kicked out.
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