Woman of Property: Important Stats and Fun Facts About Women in Real Estate
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Women have an illustrious history in the real estate industry, but it’s not a very long history. In fact, in the United States, female homeownership aspirants weren’t even allowed to finance their purchases themselves until the 1970s. Fortunately, women have achieved high levels of real estate-related success ever since. therefore, both as owners and as industry professionals. Here are some of the most interesting statistics, outrageous facts and impressive numbers in the history of women in real estate.
- Before 1974, women were not legally allowed to get a mortgage without a male co-signer. Today, women are ahead of men in obtaining mortgages: 19% of single buyers today are women, compared to just 9% of single men, according to the National Association of Realtors (NAR). In fact, single women have bought more homes than single men every year since. at least 1981.
- Some 64 percent of all real estate agents today are women. In 1908, when the NAR was founded, this percentage was zero – the group was 100% male. The first woman was admitted to membership in 1910, however, and by 1975 a third of its members were women. (In other words, a woman was allowed to sell a house long before she could borrow to buy one.) The NAR appointed its first woman president in 1992.
- The main author of the Housing Act of 1937 (aka the Wagner-Steagall Act), which for the first time offered subsidized residences to low-income citizens, was Catherine Bauer (1905-1964). A staunch advocate of affordable housing for all — his book “Modern Housing” remains an oft-cited classic in the field — Bauer has advised three different presidents and an array of federal agencies on city planning for 30 years.
- Today, many women also work in the title deeds industry. However, this was not the case until the 1920s – in fact, when the American Land and Title Association (ALTA) was first formed. created in 1907, it was called the American Association of Title Men. They changed that in 1923 and ALTA had its first female president in 2000.
- In comparison, relatively few women work in house building: 9.9% (and barely 11 percent general construction work, according to Bureau of Labor 2021 statistics). However, female representation is growing: the first chapter of the National Association of Women in Construction was founded in 1953 by 16 women in Fort Worth, Texas. Today, NAWIC has over 115 chapters all over the United States
- Much has been said about the gender pay gap in the workforce, but in construction, the gap is almost non-existent. According to NAWIC, women construction workers win 99.1% what the guys are doing.
- Unfortunately, an equality gap exists in the realm of mortgages. According to a study by mortgage startup Own Up, women pay more for their mortgages in 49 out of 50 US states. (We see you, Alaska!)
- Women are more present in the design of buildings than in their construction: they represent almost a third (32%) of architects, according to the Bureau of Labor. That’s just a slight increase from 24% in 2004, when Zaha Hadid became the first woman to win the Pritzker Prize (the architectural equivalent of an Academy Award and a Pulitzer Prize rolled into one). Alone).
- Yet the pace of progress may be accelerating: the National Council of Architectural Registration Boards (NCARB) reports that 2 out of 5 new architects are women – and that women consistently qualify for their license faster than men, completing education, experience and exam requirements in 12 years, compared to 13 years for men.
- When it comes to real estate interiors versus exteriors, the gender numbers are reversed. an overwhelming 83.8% of interior designers and the decorators are women. In fact, the person credited with inventing the field was a woman: Elsie de Wolfe, an actress who, at the turn of the 20th century, hung up a shingle while posing as a professional decorator. Big on light, patterns and soft, warm colors, she styled the homes of everyone in high society for decades to come: the Morgans, the Vanderbilts, the Fricks and the Duke and Duchess of Windsor.
- One of the richest women in real estate — and the only woman among the Forbes 400 real estate billionaires — is Jane Goldman. She leads Solil Management, which owns a portfolio of 400 commercial and residential properties around New York. His net worth is around $3 billion, estimates Forbes.
- Three out of 17 The secretaries of the US Department of Housing and Urban Development have been women, including the current director, Marcia L. Fudge. The first was Carla A. Hills, who served from 1975 to 1977, followed by Patricia R. Harris, from 1977 to 1979. Harris, who was also the first African-American woman appointed to the position, reformed the department, focusing on combating housing discrimination and funding the revitalization of inner-city neighborhoods.