In the American mind, renting has long symbolized striving rather than achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it.
Home ownership is on the decline, and renting is on the rise. But the trend isn't limited to the housing market. Across the board, Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to a Rentership Society.
The unsentimental fact about the American dream is that Americans never really owned it in the first place. For the past three decades, especially, consumers haven't so much bought their quality of life as they've borrowed it from banks and credit card companies.
Now consumers are following the example of corporations, becoming more efficient. And it starts at home.
Housing is the biggest single component of consumption in the U.S. economy and the source of much of our present misery. The typical consumer spends about 32% of his or her budget on shelter. In the last decade, that generally meant borrowing a lot of money to take "ownership" of a home.
During the boom, the home ownership rate grew steadily, peaking at a record 69% in 2006.
Ownership-boosters failed to note that homes purchased in 2005 and 2006 with no-money-down, interest-only mortgages weren't really bought. They were simply rented until the "owner" flipped them or walked away from the mortgage.
In the post-bust climate, rentinghas emerged as a much more economically efficient way to pay for housing. A one-year lease represents a far less onerous financial obligation than a 30-year mortgage. It's difficult to get into too much financial trouble as a renter. The homeownership rate has fallen from its peak in 2006 to 65.4% today.
For an increasing number of Americans it makes more sense to rent. According to Moody's, by late 2011 it was cheaper to rent than to own in 72% of American metropolitan areas, (such as Charleston) up from 54% a decade ago. And the more people who do it, the more socially acceptable and desirable it becomes. The decline in the ownership rate means that about three million more households rent today than did at the height of the bubble.
It's tempting to view the rise of renting as an economic step backward. But many would argue the rise of renting is a sign of a system adapting to new realities.
The U.S. economy needs the dynamism that renting enables as much as, or more than, it needs the stability that ownership engenders.
And the rising popularity of renting is hardly contained to the housing market.
Finally, perhaps, Americans are absorbing a piece of wisdom from Thoreau: "And when the farmer has got his house, he may not be the richer but the poorer for it, and it be the house that has got him."
If you live in an apartment in Charleston, SC, you can enjoy the The Blessing of the Fleet & Seafood Festival. The Festival began in 1987 to support and honor local shrimpers. This year the festival takes place on Sunday, April 29, at Memorial Waterfront Park from 11:30 am - 6:00 Overlooking beautiful Charleston Harbor at the picturesque Memorial Waterfront Park and Pier, this festival is one of the most highly anticipated events of the year for seafood lovers!
Come on out and enjoy live music with Southwood and the East Coast Party Band!
The Blessing of the Fleet and Seafood Festival has grown into such a recognized event that it has become a destination – spawning a week of activities centering on the shrimping industry. More than 12,000 people attend the festival each year. It has outgrown its original venue and has been relocated to the new Memorial Waterfront Park inMt. Pleasant.
Memorial Waterfront Park provides a panoramic view of the fleet, a state-of-the-art playground, and sprawling lawns for our chefs, our crafters and our artist guild. Come enjoy spectacular views of the shrimping fleet, award-winning seafood, cooking demonstrations, shag dancing contest on the pier, and other exciting activities centering on the local maritime culture.
The Charleston International Film Festival has begun and it runs all weekend long. This is just another great reason to live in an apartment in Charleston, SC.
What is the Charleston International Film Festival? The answer depends on who you ask; it is different things to different people: unique, sexy, hip, original, funky, and romantic. You’ll have five fun-filled days to figure out what you think. There are so many events to choose from with over 80 independent films showing daily, movie biz workshops and seminars, nightly parties, art, lights, music, stars, glitz and glamour. You definitely don’t want to miss it.
The Charleston International Film Festival was created in 2007 to bring people together through the art and science of film. Over the next five days, all genres of film and a wide range of subject matter will be explored.
Don’t miss the Music Farm Saturday Night Wrap Party with Drive By Truckers, Centro-Matics, and L.A.’s own Nick Soliday. One of the best shows of the year in downtown Charleston, featuring Palmetto Brewery and Sailor Jerry Rum.
More information on www.charlestoninternationalfilmfestival.org
When you live in an apartment in Charleston, SC, there certainly is no shortage of things to do. From eating great food, to enjoying the wonderful culture to just walking around a great city. But, this weekend, don’t forget about the Charleston Bluegrass Festival April 6th and 7th at the Sewee Outpost.
The Surf Bar and The Sewee Outpost are hosting a true Bluegrass Festival for all of Charleston to enjoy! For music lovers, and those who are just interested in a good time. A portion of the proceeds will benefit The Sewee Association's Cape Romain National Wildlife Refuge Sea Turtle Programs.
Take a look at the event schedule:
April 6
6PM Whoa Nelly
7PM SC Broadcasters
8PM Angel Snow
9PM Town Mountain
10PM Bluegrass Jam
April 7
11AM Old Joe Clark [Breakfast Jam]
12PM Jordan Igoe and Friends
1PM L Shape Lot
2PM Gravel Road Acoustic Trio
3PM Guilt Ridden Troubadour
4PM Doug Jones wt Bad Popes
5PM Blue Billy Grit
6PM Pierce Edens and the Dirty Work
7PM The Corduroy Road
8PM Underhill Rose
9PM The Mosier Brothers
10PM Hit or Miss Acoustic Jam
There is more information on Charlestonbluegrassfestival.com
You have probably heard by now that gas prices will only be going up and as we approach summer they may be as high as $5.00/gallon! If you live in an apartment in Charleston, SC and you like to drive around the Low Country and the South Carolina coast on your summer weekend, gas mileage is very important.
You can improve your car’s gas mileage. If you do them all, you can increase your gas mileage by 50%. When you bought your car you had a specified number of miles per gallon, but you may not be seeing that mileage today. Why?
Stop neglecting regular car maintenance. If it has been awhile since you have had a tune up on your car, schedule one! Be sure to keep up on your car’s regular maintenance. Regularly maintained cars get the best gas mileage. You will be pleasantly surprised.
Check your tire air pressure. Your tires can directly affect your gas mileage. As the temperature changes, so does the pressure in your tires. Regularly check that your tires have the required PSI. When the pressure in your tires is too low, your tires no longer work efficiently, they work like water balloons. With too much surface on the road, there is too much friction causing your car to work harder. Your gas mileage can be dramatically affected by poor tire pressure.
Believe it or not, changing your driving habits can affect your gas mileage. The way you drive affects how much gas you burn. Not planning to stop, revving up and slowing down and driving over the speed limit all use too much gas. By changing your behavior behind the wheel, you can increase the gas mileage in your car.
Enjoy the summer and enjoy the ride. Keep money in your pocket as gas prices rise, follow these tips to increase your gas mileage.
As far as activities on St. Patrick’s Day you have plenty of choices. Charleston, SC is the place to enjoy the 2012 St. Patrick's Day celebration. Put on something green, grab your friends from your apartment in Charleston, SC and head out on the town.
In Charleston you don't have to be Irish to know how to party on St. Patty's Day. Grab your lucky green outfits and get your bellies ready for some traditional St. Patty’s day meals and beverages at Charleston's Irish Bars.
Across the Charleston area, restaurants and bars will be plenty festive on St. Patrick's Day, offering all kinds of green beer, beads, Guinness, Irish car bombs, Jameson's Irish Whisky, live music, and traditional Irish food.
Here is a quick list of the Irish pubs, bars, and taverns in Charleston who will be rockin' it out for St. Patty's Day. Mad River Bar & Grille
32B North Market Street
Charleston, SC 29403
843.723.0032
9am - 1pm - Kegs n Eggs - 1st 100 people will get a free Mad River St. Patty's t-shirt. Drink Specials include; $2.50 Green Beer, $4 Bud Light Aluminum Bottles, and $5 Fireballs Shots! LIVE MUSIC ALL DAY
Corned Beef & Cabbage Special All day - Drink Specials include; $2.50 Green Beer, $4 Bud Light Aluminum Bottles, and $5 Car Bombs! LIVE MUSIC ALL DAY
Good thing there is a state-of-the-art fitness center at yourapartment in Charleston, SC. This way you can get fit and ready to celebrate St. Patrick’s Day at the Catch the Leprechaun 5K Run/Walk on Thursday, March 15. You won’t ever run in a more beautiful race. The scenic route for this race offers spectacular views of the Cooper River Bridge, USS Yorktown and Charleston Harbor.
Race participants will even get to enjoy traditional bagpipe music as the bagpiper leads the parade of runners to starting line.
After the race, there is more fun with live music, a post race party at the Mt Pleasant Waterfront Park from 6:30 – 9:00. The winner gets a pot of gold and there are prizes for racers who finish before the Leprechaun. All Participants will win a pair of Coasta Del Mar sunglasses and all proceeds will benefit Pattison's Academy.
Being a food city, there are a few great restaurant happenings coming up. Grab some friends from your apartment in Charleston, SC and go get something to eat!
Charleston Mix and Poogan’s Porch are hosting a “bloody good brunch” from 9 a.m. to 3 p.m. Saturday at Poogan’s Porch, 72 Queen St. Enjoy Charleston Mix Bold and Spicy Bloody Mary’s on special for $3. Reservations are recommended; call 843-577-2337.
Poogan’s Porch and Social Restaurant + Wine Bar have been awarded a 2012 Diners’ Choice Award from OpenTable.
The 13th annual Lowcountry Food Bank Chefs Feast is 6 p.m. Sunday at the Embassy Suites Charleston Area Convention Center. The event raises funds for the Lowcountry Food Bank’s childhood hunger programs, Kids Cafe and BackPack Buddies. Kids Cafe provides children with meals and academic assistance after school, while BackPack Buddies addresses the issue of weekend hunger for children. Nearly 3,000 children are served each week through both programs. Tickets are $175 each.
McCrady’s is hosting a Legare Farms Fundraiser from 5-8 p.m. Wednesday. Tickets are $40 in advance; $50 at the door. To purchase tickets, call 843-577-0025. Legare Farms is a family farm that has been continually operating since 1725. The mission of Legare Farms Education Foundation is to help raise awareness and educate Lowcountry communities and school children on the agricultural heritage of this region and the need to maintain this legacy for future generations. Legare Farms produces sod, hormone free beef, local produce, jams and jellies. They also run a full scale grower's nursery and an education foundation that provides school field trips, community educational opportunities and special events.
Those who have never bought a home have likely heard the suggestion that renting is like throwing money away.
Why rent when you could buy? Well, there are good cases to be made forrenting, depending on your circumstances.
Renting an apartment in Charleston means never having to worry about being trapped in an underwater mortgage, or making expensive repairs, and you can relocate when and where you want without worrying about selling a home.
Owning a home means a yard, the freedom to paint the walls whatever color you choose, and a chance to build equity and hopefully gain an asset that will grow in value. It looks like a good time to buy a home.
But for those who aren't certain they're going to live in a home they buy for many years, buying can turn out to be the avenue where your throw money away. There can be greater risks than with renting, but with greater risk, more headaches, and unforeseen expenses.
Keep in mind too, that your first home most likely won't have a state-of-the-art fitness center, gorgeous pool and other apartment amenities.
With a 30-year mortgage, more than two-thirds of the money spent on mortgage payments during the first five years will go toward interest, building little equity.
First-time homebuyers may not be aware of all the costs associated with ownership. Let's go one put some hard numbers on it.
A homebuyer should assume the basic monthly expenses will add around 50% to 75% to the mortgage payment. Here's the math:
The median price of a home sold in 2011 in Charleston, Berkeley and Dorchester counties was $186,050. So if a person puts down 10% and borrows the rest, with interest rates at 4%, the monthly payment on a 30-year loan would be about $800.
Add about $75 for private mortgage insurance.
That's $875 a month. Sounds pretty good. That works out to $9,592 yearly, with about $3,000 going toward paying down the loan, and the rest to interest.
Now here's a rundown of additional annual costs:
Utilities: $2,700. That's electricity and water for an efficient, 1,800-square- foot house, with three occupants.
Homeowners insurance: $2,200. The cost depends on proximity to the coast. Flood insurance is extra.
Property taxes: About $750 to $1,300 on a house valued at the median price, depending on tax rates where it's located.
Homeowners association fees: $350. Some neighborhoods have HOAs, others don't, and fees can vary greatly.
Termite bond: $330. If you live in the Lowcountry, you'll want termite protection.
Stormwater/Solid Waste fees: $120 to $240 in most areas.
Add them up, and on a monthly basis, those expenses bring the monthly expenses plus mortgage up to $1,425.
Plus at least $100 a month to account for repairs and replacing stuff that breaks. The to-do list never goes away.
It takes a bit of adjusting when you move into your new apartment in Charleston, SC. You have to get familiar with the space, the city, and your new neighbors. And just like you, your pet needs time to become accustomed to a new home and new faces too.
If you’ve just moved into a new apartment with your pet, using your pet's favorite food bowl, bedding and toys will help in getting your pet to feel at home. If your pet will have free-roam of your apartment, let him/her come out of the cage or crate whenever possible by leaving the crate open.
Try to keep your pets routine as normal as possible during as much of the move as possible. If you regularly feed, exercise or play with your pet at certain times, continue to do so. This may help reduce the chances of it getting upset.
Hopefully you have been able to get a recommendation for a veterinarian from your previous vet, if this move was not local for you. Once you yourself are settled in, locate and visit a veterinarian. Abberly at West Ashley is a pet-friendly apartment community, so feel free to ask us any questions.
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In the American mind, renting has long symbolized striving rather than achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they're OK with renting it. 
If you live in an 
The Charleston International Film Festival has begun and it runs all weekend long. This is just another great reason to live in an 
Take a look at the event schedule:
You have probably heard by now that gas prices will only be going up and as we approach summer they may be as high as $5.00/gallon! If you live in an 
Good thing there is a state-of-the-art fitness center at your 
Being a food city, there are a few great restaurant happenings coming up. Grab some friends from your 
Those who have never bought a home have likely heard the suggestion that renting is like throwing money away. 
It takes a bit of adjusting when you move into your new 
