Single women are losing out in the property market

The gender gap in wealth may be just as troubling as the wage gap

WOMEN’S RIGHTS advocates routinely lament the gap between men’s and women’s wages. But the gender gap in wealth may be just as troubling. According to the Boston Consulting Group, a consultancy, in 2015 women held just 30% of all global private wealth. The Survey of Consumer Finances, a poll of American households conducted by the Federal Reserve, shows that among single 60-year-olds, men are about twice as rich as women.

What is behind the housing gender gap? Some of it can be explained by market factors: women are more prone to buying in less promising markets and at inauspicious times. But the authors find that the biggest reason why women lose out lies in negotiations over price. Women are less likely to bargain down a home’s list price when buying, and tend to undervalue their own home when selling.

New home-buying technologies such as “i-Buying”, where firms use algorithms to value properties and make initial offers, could help narrow the gender gap in housing wealth. Until then, women can expect their retirement years to be a little less golden.

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