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By a wide range of metrics, ladies’s financial energy has elevated considerably in latest a long time. The labor force participation rate for women has elevated dramatically within the postwar period: solely round one in three ladies have been working or looking for work within the late Forties, in comparison with three out of 5 ladies now. Academic attainment has additionally grown, as the share of working women with a four-year degree has grown practically fourfold since 1970. And components like these have additionally contributed to a development in earnings for ladies. Whereas ladies nonetheless solely earn round 80% of what males do on common, the gender wage gap has grown smaller over time.
Collectively, bettering financial situations for ladies have made it doable for extra ladies to pursue probably the most vital purchases many individuals will make in life: a house. In line with knowledge from the National Association of Realtors, the homeownership charge for ladies was round 61.2% in 2019, in comparison with 50.9% in 1990. And this development additional provides to ladies’s financial progress, as homeownership is a key strategy for wealth-building.
By some measures, nevertheless, ladies are nonetheless underrepresented amongst householders. Out of all candidates for residence buy loans, solely 21.4% originate from females alone in comparison with 31.4% from males alone, in line with Home Mortgage Disclosure Act knowledge. Whereas practically half of residence buy loans come from joint candidates (39.3%) or candidates for whom intercourse knowledge isn’t out there (7.9%), which might embrace feminine candidates, the information means that homeownership stays extra frequent amongst males.