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Homeownership not a cure-all

Perspective: Not all renters are 'NOHOs'

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By DAVID M. KINCHEN A story at Inman News caught my eye because after 31 years of homeownership, I'm once again a renter. The May 18 story (click here to read), by Inman News columnist Jack Guttentag, calls renters "NOHOs" and suggests that renters are living for the moment -- paycheck-to-paycheck folks who lack the long-term perspective of homeowners. Guttentag starts off being provocative and gets more so throughout the story: "What distinguishes them is not their income, their mobility, or where they live -- rather, it is how they live. NOHOs live from week to week or month to month, depending on how often they are paid. Typically, they have nothing left at the end of the period, and if they run out early, they often borrow at high interest rates." He also states that NOHOs "never get ahead of the game, and if they run into an emergency that costs money, they are in trouble. Because homeownership is rife with such emergencies, NOHOs should not be ...