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2017: The Year of Women and Minorities
The housing ecosystem is evolving, and we’re witnessing circumstances to be more favorable for underrepresented groups than previously. Will 2017 continue this progression?
Market
While low mortgage rates are undermined by high home prices, buying in southern metros is at times more than 50 percent cheaper than renting, according to Trulia. Buyers in the West, where high rents often remain preferable to rising home prices, face a tougher task.
Agents must recognize these conditions and the fact that international investment in U.S. real estate is expected to continue. In the first half of this year, Asian investors invested $4.02 billion in New York real estate and $1.4 billion in San Francisco property alone—the top two most desired American destinations for their capital.
Women and Minorities
Single women accounted for 15 percent of homebuyers in 2015, compared to 9 percent single men. The desire to own a home, coupled with professional advancements, make women a formidable source of purchasing power; in fields like civil engineering, women increased 977 percent from 1970 to 2010, and the percentage of married couples where the woman earns at least $30,000 more than the man rose 3 percent between 2000 and 2015.
According to the U.S. Census Bureau, from 2014 to 2015, the ... more

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