Single women are buying homes twice as much as single men. A study has shown single women account for 17% of home buyers in the US, where single men account for just 7%. Women have been ahead of men in this regard since 1981, and the gap has widened even further since then. Single women are more likely to be single parents than men, so this can have an effect on where they choose to live.
Key Takeaways:
- Women earn less than their male counterparts, pay harsher workplace penalties for pursuing parenthood, struggle more with debt and save less for retirement.
- But there’s one area of personal finance where single women are outpacing men in the U.S., and it’s a significant one: home ownership.
- With that comes an increase in financial sacrifices women are willing to make to own a home, Lautz said, such as taking a second job or working their budgets to save for a down-payment.
“Women earn less than their male counterparts, pay harsher workplace penalties for pursuing parenthood, struggle more with debt and save less for retirement. But there’s one area of personal finance where single women are outpacing men in the U.S., and it’s a significant one: home ownership.”