According to a new report by Bankrate, the number of single female homeowners continues to surpass the number of male homeowners.
Women have come a long way in real estate in the last few decades. It was legal for banks to refuse a loan to a single/unmarried woman without a male co-signer until the early 1970s.
Two pieces of legislation changed that. In 1968, the Fair Housing Act was passed, and in 1974, the Equal Credit Opportunity Act, which boosted homeownership among women. In the years following, there’s been a surge of women owning property in the U.S., as seen in the chart below. Kathy Cummings, a senior vice president at Bank of America BAC , told Bankrate that she recalls a time when baby boomers expected to get married before becoming homeowners.
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