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 homeownership 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, renting has 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 Roanoke) 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."
Want to win ‘lease free living’ from an HHHunt apartment community in Roanoke, VA? Plus furniture, food, phone, cable, and internet all free for a year? Be part of the K92 Reality Show.
K92 is locking six strangers in a Pebble Creekapartment in Roanokefor 7 days with no communication with family, friends or the world.
The entire apartment will be wired with microphones and video cameras which can be seen on the Internet 24 hours a day.
Contestants will be voted off by their peers ...until only 2 remain.
Do you have what it takes to win it all?
At the end of the week, the winner can pick an apartment from any of the three apartment communities in Roanoke…WestWind, Honeywood, or Pebble Creek. In addition, the winner will also receive:
Electricity service for 12 months
Apartment fully furnished by Virginia Furniture Market. The Winner get to keep all the furniture, $7,000 WORTH!!!
Cable TV and Internet Service for 12 months from Cox Communications
New TV courtesy of Fox 21/27
$100.00 Kroger gift card each month for one year.
Free phone and phone service for 12 months
The Contest requires contestants to stay in the apartment April 13th through April 20th, 2012, and to be audio/video recorded for dissemination on the Internet and on air. Contestants cannot leave for work, school, or family reasons in order to remain eligible to win the prize. They must be willing and able to stay in the apartment up to 24 hours a day for the specified days along with up to five (5) other contestants and have their voices and images recorded and broadcasted on air and/or posted on the Internet.
Applications must be submitted by Thursday April 12, at 9:00 a.m. and while it is not required, it is strongly encouraged that the applicants attach a creative youtube video of themselves with their application.
MystiCon 2012, “a convention by the fans for the fans” happens this weekend, February 24 – 26. For all of you science fiction buffs living in apartments in Roanoke, VA this convention is for you!
MystiCon is a science-fiction, fantasy and pop culture convention held every February in Roanoke. This convention includes writers, artists, television and movie celebrities in science fiction and fantasy, and loads of other guests. The Guests of Honor this year are: Sherrilyn Kenyon, Nicki Clyne, and Ursula Vernon. MystiCon offers something for geeks of all ages to see and do. Get over there this weekend and join the fun!
For an awesome weekend of SciFi, Fantasy and Pop Culture, head to the Tanglewood Holiday Inn . Convention begins at 2 PM on Friday and ends at 4 PM Sunday.
This is a family-friendly event full of open gaming, enjoyment of literature, arts, and imaginations any Con-goer will enjoy!
House prices are low and mortgage rates are too, many say it is time to buy a home. But in an upside down real estate market, is it really more cost-effective to own as opposed to renting? Interest rates are lower, house prices are down, but it's also harder to get financed.
Many renters at Honeywood Apartments have gotten out of a mortgage. Others arerentingso they are not tied down to such a large amount every month.
Whether you should rent or buy depends on many factors, like how long you plan to stay in your home. Some experts will tell you buying is better than renting only if you plan to be in your house more than five years.
If you don't need the tax help, which is minimal, you may want to rent. Most of the time, and always at Honeywood, Apartments in Roanoke, VA, the landlord will fix a kitchen sink which saves the renter out of pocket money.
Here's one pro and con breakdown:
Pros to Buying a House:
Of course, there's the emotional satisfaction of owning your own home.
It builds equity, (but it takes awhile).
You can get a tax break if you deduct your mortgage interest and your property taxes.
Cons to Buying a House:
Homeowners have to pay property taxes
Homeowners have to pay for maintenance and upkeep.
There's less flexibility if you decide to move.
Down payments are often 20% of the purchase price (if you want to avoid mortgage insurance). That's money that could have been invested elsewhere.
Lastly, most experts say the value of properties won't go up soon. When they do, since selling your house with a realtor normally comes with a 6% commission, values must go up by at least 6% to break even.
Buying at today's prices doesn't necessarily mean your house will be worth more in a couple of years. Whether it's worth the risk to buy is something each person needs to figure out for their unique situation.
If you are relocating to Virginia, renting apartments in Roanokeat Honeywood Apartments is the perfect solution to your housing needs. Honeywood Apartments is a beautiful apartment community located on 25 secluded acres in Southwest Roanoke County in Virginia.
Roanoke is a great city full of history and nightlife. With beautiful vistas next door to wineries and restaurants, there is always something to do. Honeywood Apartments is in an exceptional location with the convenience of having restaurants, recreation, and transportation at your fingertips. Easy access to Route 419 and I-581 makes commuting a snap.
If you are interested in a rental community with the look and feel of a very private neighborhood tastefully landscaped and accented by open green areas Honeywood Apartments is the answer. For information on spacious one bedroom and two bedroom floor plans, contact us.
Many people are told when they are younger that renting is only for college graduates or people who cannot afford to buy. Many parents hammer these ideas into their children and tell them that renting is equivalent to throwing money away every month. Fortunately, today people are beginning to finally think for themselves and challenge these ideas. Here are 4 reasons to pat yourself on the back for deciding to rent an apartment in Roanoke, VA at an HHHunt Community!
1. Renting can save money
At the very minimum you’ll be shelling out PITI for your home. That is:
1. Principal
2. Interest
3. Tax
4. Insurance
The PITI doesn’t include property maintenance like maintaining the yard, paint, plumbing, repairs, decorating, etc… When you rent anapartment in Roanokeat an HHHunt community, the monthly payment is almost always quite a bit less than the PITI in your area and there are no maintenance expenses!
2. Homeowners’ tax deductions are overstated
According to research quoted by MSN, “… half of homeowners don’t get a break, because even with mortgage interest and property taxes, their total deductions do not exceed the standard federal tax deduction ($11,900 for couples and $5,450 for singles)”.
For these folks, it’s like spending $100 to save $20. They’re better off saving the difference and investing it. Even if there is a “break” on your taxes, you typically had to spend more than you would have spent to rent to get back that $20 for every $100 spent in interest payments.
3. Renting gives you flexibility
For the up and coming young professional, you’re better off renting and saving for a few years than to buy a small condo. Who knows how fast you will outgrow it? When you own a home, you can’t always sell it when you need to sell it at the price you want to sell it in order to accept a new employment opportunity. If you have owned a home and don’t want the constant maintenance responsibility, rentinggives you the opportunity to enjoy your weekends instead of completing that “to do” list.
If you have old and expired prescriptions lying around the apartment in Roanoke, VA, now is the time to get rid of those medicines safely.
Drug take backs not only aim to protect the Roanoke Valley's waterways, but it also helps keep our kids safe and helps prevent drug abuse.
Please bring unused or expired medications to the designated locations where they can be safely destroyed.
On Saturday, October 29, from 10 a.m. to 2 p.m. drug take backs will be held all over the Roanoke Valley.
A list of the locations are as follows: Roanoke Civic Center; Botetourt County at the Daleville Kroger; Roanoke County at the Tanglewood Kroger; Vinton at the Hardy Road Kroger; and Friendship Manor off of Plantation Road.
Honeywood is a rental communitywith the look and feel of a very private neighborhood tastefully landscaped and accented by open green areas. But our location is perfect for living and commuting. We are only minutes away from Tanglewood Mall, numerous restaurants, banks, businesses and excellent schools. Easy access to Route 419 and I-581 makes commuting a snap.
This apartment community has an exceptional location and the convenience of having your restaurants, recreation, and transportation at your fingertips.
Contact us to hear about our current offers and specials, and if your current employer is on our preferred employer list, then you will be eligible for special benefits and services.
This weekend in Roanoke if you are looking for something to do, here is the answer. The Roanoke Greek Festival is September 16-18.
Join the thousands of people who come to this joyous cultural festival each fall. The festival’s reputation precedes itself, and every year there are new high attendance records. This is attributed not only to the return of many past participants, but to the many newcomers who come to taste and share in the Greek experience.
The Greek festival shares Greek cuisine, dance exhibitions and musical performances, raffle and a kid zone. Get out of your apartment in Roanoke, VA and be Greek for a day!
The City Market building just reopened in Roanoke, and if you have not seen it yet, now is the perfect opportunity.
The Roanoke's farmer's market offers fresh, homegrown produce, and more. Grab a friend or neighbor from your apartment in Roanoke, VA and sample some of Virginia's wine at the Cellar Door. The first event is tomorrow from 5pm-8pm.
It is a tasting event all about local Virginia wines; come to The Cellar door at the City Market. Much more than a wine tasting, it is a social event. Wine is a big piece of Southwestern VA, so this historic city market is going to showcase plenty of it. Our local agriculture includes wine, so come on out after work and sample vintages from 4 local wineries, as well as a meadery, there will also be hard cider available.
All the wines to be sampled will be brought down by the growers and producers who will tell you about the wine and their vineyards. You may even learn how to taste wine at this low pressure wine tasting event.
Wine will be for sale by the glass and by the bottle. The Cellar Door at the City Market happens on the second Thursday of each month through November and is only $5 per person. Get a great wine tasting glass and when you return on the second Thursday of the month, it is only $1 when you bring your glass.
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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.
Want to win ‘lease free living’ from an HHHunt apartment community in Roanoke, VA? Plus furniture, food, phone, cable, and internet all free for a year? Be part of the 
MystiCon 2012, “a convention by the fans for the fans” happens this weekend, February 24 – 26. For all of you science fiction buffs living in 
If you have old and expired prescriptions lying around the 
This weekend in 
The City Market building just reopened in 
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