Study finds that single women in the United States own more homes compared to single men

Image by Gerd Altmann from Pixabay

LendingTree reports that American women have surpassed men in the process of accumulating wealth through homeownership. 


While women in the United States still earn less than men, they are catching up in one crucial area of wealth accumulation: homeownership. 


2.7 million more homes are owned by single women than by single men, according to a recent LendingTree study. Of these women, roughly 13% own the titles to their properties, compared to 10% of men.


According to Jacob Channel, senior economist at LendingTree and report author, "a home will represent the biggest portion of a person's overall net worth," he said to CBS MoneyWatch. "Owning a home helps you access considerably more wealth."


Credit: Pixabay


According to the Pew Research Center, women still only make an average of 82 cents for every dollar men make for doing the same work, despite historically facing social and economic barriers to wealth creation.


According to LendingTree’s study, based on data from the U.S Census Bureau’s 2022 American Community Survey, there are more single women homeowners in 47 states than men. 


LendingTree takes into account demographics such as age, income, educational attainment, and race.


In states like Delaware and Louisiana, the percentage of female homeowners reaches 15%. 


However, in Alaska, North Dakota, and South Dakota, single men owned a greater number of homes than single women, Channel said, probably as a result of the predominance of male-dominated industries in those states.


Census Bureau report from 2020 states that, on average, home equity makes up nearly 28% of household wealth. Channel points out that families and couples own the majority of homes.


The net worth of women in America is still significantly lower than the wealth of men in the United States as a whole.


Median wealth of women-led households is 45% lower than median wealth of men-led households, according to a Federal Reserve Bank study conducted in St. Louis, Missouri. 


Channel stressed that this study highlights an important point: there are many factors that affect women's wealth, but to really understand why, we need a lot more information.


This article was originally published on CBS News.




Comments

Post a Comment

Popular posts from this blog

Kanye West's titanium dentures, worth $850,000, are considered 'permanent' and surpass the concept of veneers or grills

Image
Featured Imaged Credit: Instagram @Kanyewest Kanye West reportedly paid more than $500,000 for experimental dentistry created by himself. It should come as no surprise that Kanye West and 'implants that are like nothing that has been done before' are mentioned together. He's a man who doesn't take things lightly, and his most recent financial decision was reportedly to spend $850,000 on palladium and platinum teeth. And the oddest part of all? His teeth are all still intact. Credit: Instagram @Kanyewest The implants are termed as 'fixed-prosthodontics', and he designed them with the help of medical and dental professionals. A person familiar with the matter said : "They are, as the name suggests, fixed and permanent, but this goes way beyond veneers or grills."And his implant is unlike anything done before." He collaborated with the so-called 'Father of Diamond Dentistry', Dr. Thomas Connelly, who made and fitted the dentures. The rapper s...
Read more

The 'luckiest man in the world' who survived death and won the lottery twice

Image
Featured Image Credit: 9News Your chances of winning the lottery are tiny, roughly one in 45 million, so it is doubtful that any of us would win a large fortune in our lifetime. However, trucker Bill Morgan won the lotto twice. Bill's heart stopped for 14 minutes in June 1998, but he was miraculously revived by physicians. He wasn't out of the woods just yet, as he ended up in a coma for over two weeks. After being engaged in a terrifying vehicle incident, Australian Bill was proclaimed 'clinically dead' by health specialists, yet he outperformed expectations. Bill was out and about one day when he decided to purchase himself a scratch card and was happy to learn he'd won a brand new car - a Toyota Corolla worth $30,000. When word spread of his dramatic reversal of fortunes, a Melbourne television station called Bill to tell his story. While filming the feature, the 9News Australia TV crew requested him to duplicate his victory with a new scratch card, which he duti...
Read more

Dog says ‘hello’ in ‘English accent’, leaving people people baffled

Image
Dog says ‘hello’ in ‘English accent’, leaving people people baffled Featured image credit: Jam Press/Tik Tok @fuggersandcompany Dogs have long been known for their cleverness, but a chihuahua has apparently reached a new level of intelligence, as it can speak' with a British accent.  Of course, most dogs are trained to bark when their owners tell them to ‘speak’, but this isn’t your typical woof. It’s a sophisticated, well-chosen delivery of the word ‘hello’, as if it’s coming out of the mouth of a well-dressed university professor. But the amazing thing is that the word doesn’t come from a professor, but rather from a dog named ‘Fuggers’. You heard me, didn’t you? In the video below, Fuggers shares her greeting with her owner, Shana Gilbert, who lives in Bedford, UK. The video begins with Fuggers fidgeting, as if she’s trying to get Shana’s attention. She wags her tail and shuffles along the floor, but then stops dead in her tracks as she decides that words will have more impact....
Read more