Abberly Crest Blog

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 Southern Maryland) 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."

For information on renting an apartment in Lexington Park, MD, contact Abberly Crest.

Wall Street Journal

Our apartments in Lexington Park, MD would like to share with you the Southern Maryland Community Calendar for the week. Are you looking for something to do? Here are some ideas:

Friday, April 6
Lenten fish fry, sponsored by Sons of Squadron 82. 5-8 p.m., American Legion Post, 6330 Crain Hwy., La Plata.

Shrimp and grits dinner, hosted by the Legion auxiliary. 5:30-7 p.m., American Legion Post 206, 3330 N. Chesapeake Beach Rd., Chesapeake Beach.

Saturday, April 7
Household hazardous waste collection, 9 a.m.-3 p.m., Charles County Department of Public Works.

Children’s Easter party, 1-3 p.m., American Legion Post 206, 3330 N. Chesapeake Beach Rd., Chesapeake Beach. Free.

Open skate night, for all ages. Sponsored by St. Mary’s County Department of Recreation and Parks. 6-9 p.m. Saturdays, Leonard Hall Recreation Center, 23145 Leonard Hall Dr., Leonardtown.

Monday, April 9
Dog obedience classes, for puppies and for advanced-level and tracking dogs, offered by the Department of Recreation and Parks. St. Mary’s County Fairgrounds, 42455 Fairgrounds Rd., Leonardtown. $45-$75.

Monday morning movies, stories, songs and movies for children and their caregivers. 10-11 a.m., Calvert Library Prince Frederick branch, 850 Costley Way. Free.

Book discussion, “The First Tycoon: The Epic Life of Cornelius Vanderbilt,” by T.J. Stiles. 6 p.m., Lexington Park Library, 21677 FDR Blvd. Free.

Pax River Quilters Guild meeting, new members are welcome. 6:30 p.m., Good Samaritan Lutheran Church, 20850 Langley Rd., Lexington Park. Free.

Books discussion, talk about any books that you have read recently. 7-8:30 p.m., Calvert Library Twin Beaches branch, 3819 Harbor Rd., Chesapeake Beach. Free.

Tuesday, April 10
Tri-County Job and Career Fair, representatives of employers will discuss openings and future opportunities. For information, go to www.csmd.edu. 10 a.m.-2 p.m., College of Southern Maryland.

Nature Time, “Meet Our Horses,” a program for children and their families. Take a picnic lunch. 10-11:30 a.m., Greenwell State Park, 25420 Rosedale Manor Lane, Hollywood. $5 per child.

Résumé and cover letter workshop, bring documents for review and guidance. 10 a.m.-noon, Calvert Library Prince Frederick branch, 850 Costley Way. Free; registration required.

Pastel arts workshop, explore color and light in a special medium; bring supplies and a photograph to work from for a final painting. 10 a.m.- 4 p.m., Small wood State Park (Mattawoman Creek Art Center).

Books and more, discussion and coffee. 1 p.m., Leonardtown Library, 23250 Hollywood Rd. Free.

Public issues forum, hosted by the Charles County Board of Commissioners. 5:30 p.m., Charles County Government Building, 200 Baltimore St., La Plata.

Local history discussion, “Footprints of a Black Man: The Holy Land,” by William S. Brooks, a Calvert County native for whom the school system’s administrative center is named. 7-8:30 p.m., Calvert Library Prince Frederick branch.

Wednesday, April 11
Computer class, how to use library databases. 2-3 p.m., Calvert Library Southern branch, 20 Appeal Lane, Lusby. Free; registration required.

Washington Post

With all the access to the shoreline we have living in apartments in Lexington Park, MD, we need to do our part to keep our shoreline clean. On Sunday, February 26, divers from Southern Maryland will be gathering at the Driftwood Beach in Chesapeake Ranch Estates in Calvert County to help do their part in helping the environment while making a difference locally.

You can help too, even if you don’t dive. This is an event to all who are interested in helping clean the beach. Volunteers will be diving and cleaning the shore line and beach to pick up debris and trash.

This is all part of an initiative by Southern Maryland Divers, LLC to do their part in helping the environment in a not so typical way as a part of Project Aware. For the dive, Southern Maryland Divers will provide hotdogs and hamburgers, sodas, hot chocolate, and coffee for anyone that participates as well as a shelter with a kerosene heater for those that dive. Southern Maryland Divers will provide tanks and rental gear free of charge for those that don’t have their own gear.

As a special for all participants, Southern Maryland Divers will be offering the PADI Project Aware - “Our World, Our Water” specialty for only $35. This will however require a short classroom session for those who choose to take it.

Original article - Baynet

Moving to a new area is never an easy task, but if you’re looking for an apartment in Lexington Park, MD, Abberly Crest could be your new home. Located in Southern Maryland, Lexington Park is located right near Pawtuxent Naval Base and St. Mary’s College.

Located on the Western Shore of the Chesapeake Bay, this area is famous for our seafood. Steamed crab, crab cakes and oysters top the list of our favorites. However, one of our most traditional dishes is “stuffed Ham” with cabbage, kale and onion and spices. If you’re relocating to the Naval Base, Andrews Air Force Base or the Willows Run Business Park, be sure to try this delicious meal when you visit!

Lexington Park in seaside St. Mary's County is one of the nation's fastest-growing "micropolitan" areas,  largely on the strength of military growth. Southern Maryland is the fast-growing area in Maryland, and a very desirable bedroom community for people who work in DC. So come visit or give us a call. The staff at Abberly Crest would like to give you more information.

An old farm will once again be the site of local produce soon, in Lexington Park, MD. This is great news for the neighborhoods and communities around South Maryland.

A new farmers market is being constructed at the 108-acre property at Forest Park Road and Route 235 just south of Patuxent River Naval Air Station and it should be open by the Fourth of July.

County government bought the land in September 2006 with the aim of preserving the land and to start a farmers market, five lots were also donated to Patuxent Habitat for Humanity.

The farmers market project is a collaboration between county government and the Home Grown Farm Market, a group of seven local farmers. However, no farmers have signed up yet to actually sell produce at the market; the group is awaiting its opening.

The market will be housed in a 50-by-100-foot barn, and the goal is to eventually keep it open all year instead of just the growing season.

The market will have electricity, but not running water. The project used $428,000 of cigarette lawsuit settlement money, and most of the dollars went to site plan work.

It will be a producer market, meaning that whatever is sold there has to be grown on the seller's own farm. All farmers in Southern Maryland are invited to sell there. There will be room for between 10 and 15 sellers within the barn.

The location of the market is ideal for the workers at Pax River who use Gate 3, which exits onto Forest Park Road.
The market is "an incubator for farmers," and "it's going to take some time to grow and build."

Original article by By Jason Babcock of SoMdnews.com