More Single Black Women Are Buying Homes Outpacing Men… Says They Dont Need a Man To Do Things | The Millionaire Morning Show w/ Anton Daniels

I heard eyes. Heard that. My ladies. My mercedes hopeful in the back. Two, if you’re fat. I heard my ladies is out here outpacing men. Outpacing men when it comes to purchasing homes. Let’s talk about it. Let’s talk about it. I have not seen this, but this did come across my algorithm. And I have heard people use this as a talking point when they’re debating certain subjects as far as women and men and what it is that you bring to the table.

Right. So let’s get into it. Women are now being documented as the number one black women, specifically as some of the number one people that are in the home buying process and purchasing homes, outpacing men. Let’s play it out. Make sure you all hit a like for the algorithm. Subscribe to the channel, and turn on your notifications. In an era marked by soaring real estate prices and bidding wars, home ownership can feel like just a dream for many people.

Yeah. But now single women are stepping up, and they’re moving in, outpacing men. In the housing market. Our Elizabeth Schultze sits down with some of those women behind the recent buying boom. So this is it. This is it. This is your house? Yes. Let’s see it. Okay. After years of paying rent, 30 year old Kristen Holmes dreamed of walking through the front door of her own home. It feels like my own.

What was it that made you decide you wanted to buy a house? After renting, I felt like for all the money I was spending on rent, it just made more sense to buy. And just knowing that my money is going somewhere, it might as well go towards my own investment. She saved up $80,000 for a down payment, and after three years of house hunting, finally closed the deal on a fixer upper in Hyattsville, Maryland.

I’ve never been to Hyatt’s Maryland. Has anybody been to Hyattville, Maryland? Can y’all tell me whether or not it’s an awesome place to anywhere is an awesome know. Anywhere is an awesome place in order to buy a home or whatever it is. You all tell me about Maryland. You all tell me about that. What you all know about Marilyn? She bought a fixer upper. Put 80 bands down, bought a fixer upper.

Let’s see what she got going on. It feels good, especially when I can make decisions. If there’s something I don’t like being able to do it myself. I really think that you picked the right community for realtor Cheryl Abrams Davis says homes is part of a broader trend. Single women scooping up homes for sale in 2023. Of the people who purchased homes, six of the 13 buyers were unmarried women.

See your own data. So that’s the thing that they spitting out. Right. So I got it wrong, see, because I haven’t watched this yet. They’re basically saying, listen, these are single women. Single women that are buying homes. They’re not saying that they married. They’re not saying none of that. They said list. Six out of 13 people are single women. A little less than half. A little less than half of the people that decide to purchase a home are single ladies.

Single ladies. Single ladies. What do you all think about that? I’m not giving my opinion yet. I’m not giving my opinion yet. I’m just asking you all what you all think about it. Hyattville is one of the highest places of crime. $84,000 median income for Hyattville, Maryland. Interesting. Shows that about half of people who buy homes are single women. Data from the National association of Realtors shows single women were 19%, about one fifth of all homebuyers, last year.

That’s compared to just 10% who were single men. Why do you think women are outperforming men in homeownership? They’re more likely to be caregivers. They’re more likely to be perhaps a single mom, have a multigenerational home with an elderly relative in it. And so they want a stable residence and to know exactly what their payment is going to be. Jessica Loutz of the National association of Realtors. Oh, look at that bowling ball.

Jesus. Can we include a diet plan along with that? Is that a part of the closing? The closing gift? This is not about that. Anton, Anton, stay focused. This is not about that. Stay focused on what we’re talking about right now, because I don’t want you to get distracted by things that don’t matter. Don’t get distracted by things that don’t matter. Okay. Says their data shows single women are more likely than men to make financial sacrifices, like cutting back on nonessential spending or taking on a second job in order to afford a home.

We also know that women are saying it doesn’t matter. I don’t necessarily have to have a ring to actually have this house that I want. The diversity of woman power in this nation. Only 50 years ago, women weren’t legally allowed to sign their own mortgages. That changed in 1974 under a federal law prohibiting discrimination by lenders on the basis of sex. Today, single women own nearly 11 million homes nationwide.

It’s really cool for me to now be a homeowner and kind of see everything my mother and my grandmother work hard for to create a legacy in our family. At the age of 24, Kyla Wright bought her first home for about $100,000 in a suburb of Detroit. People were asking, well, what if you want to move again? Well, I just rented out. But the process wasn’t easy. Wright says she put in about 20 offers before closing on the sale.

I fell in love with some houses I liked. I didn’t get them. It’s a familiar challenge for brandy Solito in Connecticut. Everything that we fall in love with and I get excited about, we get outbid immediately. She’s struggling to get a foothold in the market because of a lack of affordable homes for sale and high interest rates. Interest right now is killing my bottom line. Why do you think you were able to successfully buy a house at age 30? So many people right now are struggling to even think about making that kind of an investment.

I think the first thing is having a plan each month, saving a little bit more, and also working with lenders and understanding what goes behind buying a home is what led me to it. My mom always says, if you fail to plan, you plan to fail. You made a plan and stuck with it. Yes, definitely. Mama’s right. Mama always has the best advice. And our thanks to Elizabeth Schultze for that report.

So here’s my opinion on this, right? Here’s my opinion on this. First of all, let me say congratulations to all of the women that are purchasing homes. There is absolutely, positively nothing wrong with women purchasing homes. There is nothing wrong with women purchasing homes. Here’s my question. Why does it have to be in comparison to men if it was only about the home, but it wasn’t about comparing yourself to a man.

See, men don’t compare themselves to women because women is not competition to them. We’re happy for you. Congratulations on being a functioning adult. Congratulations on being a functioning adult. I think that that’s cool. I think you need to understand what comes along with it. I think you need to really understand that you don’t own a home. You own the opportunity to pay a mortgage from the mortgage company who owns the home, and if you miss three payments, then they can take it back from you.

I will also tell you that what you don’t really understand about owning a home is that property taxes are forever. Insurance payments, the maintenance that goes along with it also repairs. All of those need to be calculated with the true cost of owning a home. And this has nothing to do with directing it towards women in particular. I just want people to be educated of what it really takes in order to own a home.

Even if you rent it, you still have to take into consideration the amount of money that you put down. Because if you put down less than 20%, then you’re going to be paying PMI, which is private mortgage insurance. Private mortgage insurance is basically you’re paying the mortgage, the person that owns the mortgage insurance, just in case you default on it because you’re a riskier borrower because you put down less than 20%.

Right. If you get into these homes and you finance it for 30 years, which it’s a strong possibility that you are, then you’re going to be paying primarily interest, hoping that it appreciates over a period of time so you can have some equity into the property also on top of that. Right. You don’t really get to see the value of the home or really get the true value within a home when you take into consideration the closing costs and everything that’s associated with purchasing a home or selling a home, as far as realtor fees, unless you live in a home for at least ten to 15 years.

Okay? So I just want you all to take that into consideration. Congratulations. What I’m hearing from women personally is, Anton, I bit off more than I could chew. Some women are starting to get laid off because the economy is topsy turvy. They don’t know how to address to the circumstances. They’re branching out to be out on their own in order to prove that they’re independent. And if you’re doing it for the wrong reasons, then you’re not going to get what you’re supposed to get out of it.

If you’re doing it for the wrong reasons, you’re not going to get out of the home buying process what you think you’re going to get out of it when you have to replace the water heater, right? When you got to replace that roof, make sure you get an inspection. If you start to get termite damage, if you ever have to have any kind of problems with a break in and stuff like that, all of these things are factors.

What I will say specifically is I think that more people need to stay home longer. There’s nothing wrong with purchasing your own home. I have nothing negative to say about it. All I’m trying to do is make sure that you guys are informed on what you’re getting yourself into. Because a lot of people don’t talk about the negatives and the positives. It’s pros and cons. With everything. And so you have to adjust according to your lifestyle.

But what I would say is people need to stay home longer. Also, when you purchase your home, and this is just my personal opinion, stay away from environments where you have to pay an association fee. Stay away from environments where you have to pay an association fee. Okay. Because that association fee can adjust. It can go up. It can go down. A lot of people are having problems with their association fees.

It’d be large fees associated with, it’s a lot that goes along with it. So there’s more to just buying a home than just saying, I own my own home. Now you own the ability to pay the mortgage to the mortgage company, and if you default on it, then it’s going to be a problem. All right. But congratulations to my ladies. I’m happy for you all for continuing to do the thing that you all think makes the most sense for your financial portfolio.

Leo, and for your life. Stay home as long as you can. Make sure you get a roommate. Lower your costs. Don’t over purchase a home just because you can afford it or just because they say you qualify for this amount. Be very careful. Very careful. All right. So I don’t have anything negative to say about that. As far as what was reported. Congratulations. You’re functioning adult now. I appreciate it.

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