Single Women Propping Up the Condo Market?
For some reason, according to The Times, single women can’t get enough of the Brooklyn condo market. It’s the women’s checks, David Walentas said of the unprecedented number of ladies dropping deposits at 110 Livingston Street. It’s not like a dual account — Joe and Suzy. It’s Suzy. I’m amazed. One broker says that it’s…
For some reason, according to The Times, single women can’t get enough of the Brooklyn condo market. It’s the women’s checks, David Walentas said of the unprecedented number of ladies dropping deposits at 110 Livingston Street. It’s not like a dual account — Joe and Suzy. It’s Suzy. I’m amazed. One broker says that it’s the women’s ability to take the long-term view versus men’s competitive need to get the best price in the here and now. Other brokers say it’s the powerful word-of-mouth effect among women that’s resulting in pockets of them buying in the same new developments. One person we had dinner with on Saturday night had a less politically correct theory: That single women at the end of their child-bearing years may be coming to terms with the fact that they will only need a one or two-bedroom home for the long haul, whereas men of the same age may be holding out on the belief that they may need a larger family home at some point in the future. Another option is that there may be no trend at all, just a few anecdotal outliers. It would be interesting to hear from some brokers on this one.
Women Unafraid of Condo Commitment [NY Times]
Photo by Hiroko Masuike for The New York Times
oh god. what idiots. only men know what they are doing and women foolishly get bad mortgages. riiiight
I think it depends on your situation. I met my husband at 24 married at 27 kid at 28.. I really did not even think about buying a place and I wish I did!! It would of helped out a lot. I also lived at home till I got married (rent free), was able to save a lot of money but still not the same return as owning something..
Things are also changing that women are staying single a lot longer and waiting to get married and start a family later. I think maybe if I got married later in life, I proably who have then moved out of my parents house for more freedom.. I think that is a big factor, many women live at home much longer then men do. I mean what kind of women wants to date a 28 year old guy who still lives w/ his parents.
Amen Sylvia. I’m a married woman, we rent for the same reason. We will buy eventually, but not until it makes financial sense. And no, we’re not “bitter” or “losers” – we’re professional, six income earners with savings. But it just doesn’t make sense to buy at this point in time.
I’m not a man. I’m not single. And I’m definitely in the rent-don’t-buy camp. It’s more about the market, for me. If I could live in a decent neighborhood and make monthly mortgage payments that were comparable to what I’m paying now in rent, I obviously would. But I can’t.
Plus, I don’t relish the idea of investing money in real estate at this particular juncture in American history. I’d rather invest in, say, green beans or the railroad or government bonds. They all have better returns than real estate at this point.
Notice how the only naysayers about buying on this site, are men? Most are men who have NEVER bought real estate, and who promote renting as the way to go. And the idea of more and more single women buying puts them in utter panic. Hmmmm. We’ve solved the mystery of the rent-don’t-buy trolls. They’re guys who have gotten to the age they can’t get laid because they still rent, and they’re trying to move everyone over to their side. Don’t be so insecure about it – if you have a great, rent-control, super cheap apartment renting CAN be the way to go. But why bash everyone who is choosing to buy? We can’t ALL be in cheap but great rental apartments you know. Newsflash, they’re a tad difficult to find in NYC.
as a 25 year old single woman who owns, what bothers me about this thread is it seems like everyone is trying to prove they’re the shit — like being married with an apartment and a kid means you’ve made it and you’re better than single people who rent. call me when you’ve done something for someone other than yourselves.
Seriously, though. There has to be something going on in the psychological difference between men and women. I agree with most people who have posted that buying is a smart thing to do, so perhaps we should really shift our focus to why men aren’t buying. Does it have to do with men fearing the long term commitment of a mortgage?
To imply that women are buying homes and not doing their research or homework on the market, loans & mortgages is just offensive. I didn’t just throw down a huge chunk of my savings without doing the proper homework.
This is not a new demographic, it’s not new in news either. They’ve seen for years all around the country the fastest growing group of first-time home buyers are single women. Years. It didn’t start just now.