What percentage of single women are homeowners?
Indeed, in response to National Association of Realtors, single women have been the second largest group of homebuyers since 1981. As of 2023, single women accounted for 17% of all homebuyers in comparison with men who make up 9% of all homebuyers, in response to the association. If you are wondering, couples – each married and single – remain the dominant group, buying around 70% of real estate purchases.
Ukpai noted more sobering statistics showing the shortcomings of female borrowers:
- The gender pay gap persists. According to Research Pewwomen still earn a mean of about 84% of their male counterparts.
- How study 2021 found that ladies pay higher rates of interest on their mortgages in 49 out of fifty states, despite the fact that they pay lower than me.
- recent Yale Study found that single women pay about 2% more when buying a house and earn 2% less when selling.
Ukpai focused on the wage gap: “Women still earn about 80 cents on the dollar to men, so women have less assets, less income,” Ukpai said. “And then when single women buy homes, we also see women paying more for his or her rates of interest in 49 out of fifty states than men, despite having fewer arrears.”
Loan discrimination?
speak to MPA just after Women’s History Month, Ukpai said technology might be used to eliminate bias in lending, which might help level the playing field: wealth constructing opportunities, but we’d like to be certain we use technology in a way that permits it to be fairer.”
She detailed the usage of technology at Better to eliminate credit bias: “We’ve probably invested a whole lot of thousands and thousands of dollars in our automated decision engine,” she said. “It removes the prejudices that are available in the way in which of creating the choice to own a house. There are hundreds of decision points from application to homeowner, and we have invested in a platform that is color-blind, gender-blind, data-driven decision-making.”
