Since 1981, single women have lead single men in the category of home ownership. Over the past few years, the gap has grown even larger. According to a data released by the National Association or Realtors, in 2016, single women accounted for 17 percent of the US. homeowners. Single men lagged behind, making up only 7 percent of all American homeowners.
According to an article published by Bloomberg.com, “Women earn less than their male counterparts, pay harsher workplace penalties for pursuing parenthood, struggle more with debt, and save less for retirement.” Nevertheless, the rate at which women purchase homes outpaces single men. This begs, the question, why?
The most prominent reason, Mary Pilon points out in her article, “Why Single Women Are Buying Homes at Twice the Rate of Single Men”, is that a woman, as a single mother, places significant value in providing a stable home for her child. Since women are three times more likely, than a man, to be the single parent, the number of homes purchased by a single parent will most likely be a single mother.
Additionally, there are more and more unmarried Americans 25 years old or older; in fact about 20 percent of Americans over the age of 25 are single. According to Bella DePaulo, a professor at the University of California at Santa Barbara, women seem to embrace their single lifestyles more readily than single men. Owning their own home is a way many single women choose to enjoy their years as single professionals; they truly revel in the independence and empowerment home ownership represents.
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Photo Credit: Mark Moz