In the wake on the recent housing market, it should come as no surprise that many people are having a harder time purchasing their first home. In a recent study that was done by the National Association of Realtors Reports, they found that on average single women are out buying single men two to one. This may be a surprising statistic to some considering it wasn’t until 1986 and the Fair Housing Act that women were even able to apply for credit and mortgages without the signature of their husbands or fathers. In the recent years women have been making large strides in gaining equality both through social and fiscal means. Though women in 2013 are still being under paid in comparison to their male counterparts by receiving an average of 82 cents to every dollar that is not stopping them.
Currently, single women make up around 18 percent of the household composition in the profile of Home Buyers and Sellers. This is in comparison to single men who are only making up about 10 percent of the profile. As one can imagine, there are many differences between women buyers. Women, unlike men are more prone to purchase a house based on whether they like it versus its value and cost. This in itself could be a substantial factor in why there are more women purchasing then men. Single women are considered by relators as one of the most discriminating buyers, due to the importance that they place in location. In 2013, single women were more considered with buying homes that were close to family, friends and culture centers then anything else.
With women on average handling credit more responsibly and tend to have lower debt accumulation, they are beginning to be the ideal candidates for mortgages. Men tend to have 7 percent higher incidents of late mortgage payments and around 4.3 percent higher debt rates. With more emphasis on the emotional factors that go into buying a home, this booming trend is projected to continue. Women’s ability to detach themselves more from the cost and value of a home and see the possibilities of what their can be it is no wonder they are out buying men.
[Image via Deviant Art]
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