Although considered poor credit risks only a few decades ago, single women now represent the second-largest segment of today's homebuyers.
According to profile of homebuyers and sellers obtained from NAR, over 18% of the homebuyers were single women, second only to married couples at about 62%. That was more than double the single men homebuyers, who comprised only about 8%. Approximately 33% of the people buying condos are single women, who not only favor the low maintenance costs but also the sense of security and community. Nevertheless, many single women homebuyers have been willing to take on a high-maintenance house in anticipation that the value will eventually rise.
Additionally, women are taking on jobs of greater responsibility in the workplace. They own and operate over 38% of all businesses in America and make up nearly 40% of all business school graduates. About one quarter of the nation's doctors and lawyers are women, while 43% of medical students and 50% of law school students are female. Astounding!
The ability to live longer, marry later, get better educated and make more money can give women much stronger clout in the housing market. Many single women are now using this clout to provide themselves with not only a residence, but also tax benefits and a good investment for the future.
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