Which segment of the population is buying more homes than any other? These days, single women are leading the charge with home ownership.

Today, I have three statistics for you to frame our whole conversation:

In 2016, an estimated 5.5 million single-family homes, condos, and townhouses were bought and sold, one of the most robust sales years in the last decade. 

There are about 109 million unmarried adults 18 or over in the United States.

About 53% of all single people in the U.S. are female, adding up to almost 58 million women.

So what do they all have in common?

It turns out that not only are women buying homes at record rates, but single females are purchasing real estate more than any other segment of the population.

Since homeownership is a gateway to a better financial life, it’s encouraging and endearing that so many independent, solo women are choosing to buy their own home.

Let’s examine these trends:

First off, we can look at the instance of married versus unmarried homebuyers:

Percentage of homebuyers

54% Married couples

44% Unmarried couples

2% Other

That means more than 4 out of every 10 home buyers is unmarried, a statistic that backs up the basic demographic trends in our country, as people are getting married later and not necessarily waiting to buy a home.

Now, let’s add gender to that matrix of current homebuyers:

                                                   Women     Men

First-time homebuyers:                23%        15%

Repeat homebuyers:                   15%          8%

Women that live

alone and own a home:                56%        47%

Spend ½ of their income

on housing:                                  25%        10%           

So we see that 23% of first-time homebuyers are women while only 15% of first-time buyers are men.

Even more pronounced of a gap, 15% of repeat homebuyers are single females, compared to only 8% of men – a rate almost double.

In fact, single women are the second largest group of recent homebuyers, behind only married couples and even ahead of unmarried couples such as boyfriends and girlfriends.

According to data from the New York Times, that mirrors the trend of single women owning their own home at a higher rate than single men over the last 30 years.

Here are some other statistics and trends about women and homeownership:

Female homeownership rates grew slowly but steadily over the decades but saw a big jump in the eight-year period from 1994-2002, when the number of unmarried females owning homes grew from 13.9 million to 17.5 million.

36% of single women live at home with their parents or relatives, the highest percentage since 1940.

The median age for single female first-time homebuyers is 32 years old.

The median income for single women who are first-time homebuyers is $49,000.

Bucking public perception, more women are now living alone than men by a significant margin; 15.5 million (women) to 11.8 million (men).

Of these single people that live alone, women were also more likely than to own their home (56%) compared to men (only 47%).

While women have come a long way when it comes to owning our own homes, we also have some progress yet to be made when it comes to financial independence.

About one-quarter of the eight million single mothers spend more than half of their monthly income on housing.

However, only one-tenth of single fathers pay more than half of their income on housing - a profound difference.

Another head scratching disparity between the genders is the fact that homes that single men buy appreciate faster than single female-owned homes. In fact, single men see their homes appreciate by 16% more than those belonging to single women.

The downside of single woman homeownership – less equity:

However, studies show that single women actually build less home equity over time than their male homeowner counterparts. In a study of almost 80,000 homes purchased in 2012, women earned a median home equity of $171,313 over five years, while men accumulated $186,403 equity in the same time.

That’s a significant difference of $15,090 or 8.1 percent or, framed another way, women amass 92 cents in home equity for every dollar that men gain.

Reportedly, there are several factors that may explain this equity gap.

On average, women are spending $25,000 less than men when buying their homes, which means that they start out with less equity. In high-cost areas like San Francisco, that gap goes up to $52,000 or more, which means that men have a larger asset to appreciate to begin with.

Women are also putting a smaller down payment into their purchase by a significant margin, as women are more likely to use an FHA loan with only 3.5% down.

Women still lag behind in income, and their income growth rates have effectively flatlined since 1979.

The positive side of this is that women are far more likely to go to college than en these days. However, that also comes with more student loan debt, as 65% of the U.S. $1.3 trillion student loan bill is owed by females. This equates to a skewed Debt-to-Income ratio and less spending power when buying a home, and therefore less equity.

Women are also far more likely to have children than single men, with 82.5% of single custodial parents being female. That means costs are higher and there is less money available for a down payment, house payments, or paying down a mortgage loan than for men.

Tips for home security around the holidays

Everyone loves the holidays, with Thanksgiving turkey, Christmas lights, New Year's parties, and plenty of shopping and festivities in between. But do you know who else loves the holidays, but for far different reasons? Home burglars and thieves.

In fact, there are 2.15 million home thefts in the United States every year, but five-or-so weeks between Thanksgiving and New Years Day report the second-highest burglary rates of the entire year. Why do the bad guys love breaking into your home and helping themselves to Christmas presents (your things) every year?

• ·      They know there will be far more new purchases sitting around, including expensive items and brand new electronics.
• 
  
• ·      People are home less during the holidays, as they often are at holiday parties, celebrating with family, or even away on extended vacations.
• 
  
• ·      There are also far more people coming and going from every home, so they’re less likely to be noticed.
• ·      People are also more distracted during the holidays so security may lapse – or your neighbors may not notice them coming and going.
• 
  
• ·      It’s dark much earlier, giving them cover, and, the best of all…
• 
  
• ·      There are plenty of packages sitting right out on front steps! They can literally follow the mailman, UPS, and FedEx driver around and help themselves.

It's also a lot easier than you may think for thieves to get into your house. In fact, about 65% of home thefts take place in broad daylight, and 1 in 3 thefts occur by unforced entry, meaning no doors or windows were broken because they were left open or unlocked. With the average financial loss of a burglary ranging from $2,400 to $4,000 these days, as well as the feelings of emotional violation they bring, you can't afford not to protect yourself and your family.

Here are some tips for home security around the holidays:

1. Burglars are 80% less likely to break into your home if they notice cameras and an alarm system on your premises. In fact, a study by Rutgers Univesity found that the majority of criminals purposely avoid a house that obviously has a security system or alarm. These days, there are so many great alarm systems that are easy to install and use, even mobile from your smartphone. They also don't have to cost too much but remember that it’s also an investment, and you’ll probably get a discount on your property insurance just by having one.

2. Other than alarm systems and cameras, the best way to deter would-be intruders is to install bright security lights that are triggered by motion sensors.

3. Since there are so many “package thieves” these days, it’s recommended that you have multiple security cameras on your front porch with clear footage of your front door area.

4. It's also a good idea to request a signature receipt when you order things online. That way, the mailman/UPS driver etc. needs to get your signature before delivering packages, and they won't just be left on your front porch. If no one will be home all day because you'll be at work (like most of us), simply have your things delivered to your work address.

5. If you’re traveling for the holidays, you might want to hire someone to stay at your house instead of just leaving it vacant. If nothing else, cancel your mail and make sure lights and even stereos and TVs are rotated on and off.

6. Close curtains when you’re not at home – not being able to glance inside deters thieves.

7. Keep all doors and windows locked. Double check places like bathroom windows, garages windows, etc.

8. Sliding doors are particularly vulnerable to access from burglars. You can install a secondary sliding lock and/or use a pole that fits in its tracks so the door won’t slide (called a “Brooklyn Lock.”

9. If you're away for long periods, put your lights on a timer. But thieves even watch for homes that have the same lights on at the same time every night, so use one of the easy new timers that turn them on and off randomly, or you can control them from your smartphone.

10. Take a careful inventory of all valuables in the house, with model numbers and serial numbers, etc. Make sure these are covered and submitted to your insurance company. It’s also a good idea to register items with Immobilise.com to make any thefts easy to track if they’re resold online.

11. Close up and lock the garage as it’s the easiest place for thieves to get into your residence without attracting attention, and then they can go to work on getting into the rest of your home. Too often, people treat garage security as an afterthought, leaving doors unlocked or with flimsy locks and windows not hooked up to alarms. Instead, frost the windows and door glass in your garage and install security bolts.

12. Likewise, bolt and frost basement windows if you have them.

13. Clean up the outside of your house, cutting back shrubs and bushes that make ideal hiding places for thieves. Likewise, cut landscaping back from first-floor windows and tree branches that would easily lead them to second story access. Don’t leave ladders outside if you’re putting up Christmas lights or cleaning gutters, etc.

14. Get to know the neighbors, leaving them your contact info at work, and join the local neighborhood watch.

15. Even more than alarm systems, thieves are scared of dogs. So why not buy a vicious killer (cute puppy) dog for your family this Christmas. But if you’re not interested in having another four-legged family member, simply purchase Beware of Dog signs and leave BIG dog food bowls outside on the front and back porches.

What NOT to do this holiday season:

• ·      Don’t post your name on your mailbox, and don’t use a mailbox unless it locks.
• ·      Don’t put boxes and packaging from expensive items like computers, TVs, etc. in your garbage or visibly in your recycle bin.
• ·      Don’t leave spare keys under doormats, under planters, over doorways, or in other obvious places.
• ·      Don’t use a cheap lock that can be easily opened by a bump key, a tool that burglars employ to quickly break open 90% of the standard locks on the market.
• ·      Don’t reveal too much on social media. Be very careful what you post on your Facebook and other social media accounts during the holiday season. A simple Facebook post like “We’re going to pick out a Christmas tree today,” or about how crowded the mall is, etc. and clue thieves in that your home will be vacant. Front there, it’s very easy for them to find your home address, either on your social media accounts or via public records.

Everything you need to know about the Run to Feed the Hungry - Sacramento's Thanksgiving tradition

What is your Thanksgiving tradition? It probably involves getting together with family, eating enough to keep you stuffed until mid-December, and maybe watching a little bit of football from the couch. 

But for many Sacramentans, Thanksgiving Day is also synonymous with the Run to Feed the Hungry, one of the most spirited and celebrated fun races in America – and all for a great cause.

Here are some more facts about the Run, sometimes also referred to as “the Turkey Trot:” 

The Run to Feed the Hungry will commence its 24th annual event this Thursday, November 23 – Thanksgiving morning

This year, the 5k and 10k run (or walk) is expected to break its own record for attendance, with more than 30,000 runners registering to participate.

The current record for attendance at the Run to Feed the Hungry was 29,002 in 2016 and, before that, 28,544 in 2013 for the race’s 20^th anniversary.

Not only do we have an impressive drove of runners, but tens of thousand supporters, bystanders, well-wishers and volunteers at the race every year.

That makes this “Turkey Trot” one of the largest Thanksgiving Day runs, charity fundraiser, and events in the entire country.

Of course, the whole point of getting out too early every Thanksgiving morning, often braving the cold and rain, is to raise money for a great cause, the Sacramento Food Bank & Family Services.

The charity race was established in 1994 when a modest 796 runners and patrons showed up for the first Turkey Day road race through East Sacramento.

The event raises donations for the Sacramento Food Bank (the official name is Sacramento Food Bank & Family Services, or SFBFS). While exact totals aren’t available, it’s expected to bring in more than $1,000,000 in donations in 2017.

The SFBFS provides food, clothing, education, and other support services to about 50,000 men, women and children every month in our greater Sacramento community.

They do this by implementing their 15 signature programs with 210 other local agencies, all focus on educating and empowering people so that they can achieve financial independence. The SFBFS focuses on education, not giving hand-outs, to foster self -sufficiency.

The Sacramento Food Bank operates with the help of 10,000 volunteers, putting in 85,000 work hours every year for free.

Free programs offered in the community include:

• Emergency goods
• Adult and parent education
• Youth education
• Immigration legal services
• Refugee resettlement services
• SMUD EnergyHELP services
• Produce For All
• Commodities for Communities
• Nourishing our Neighbors
• Partner Agency Network
• No Student Left Hungry
• Food for Seniors
• CalFresh
• Health & Nutrition

While it’s quite a production, the Run to Feed the Hungry is able to keep their operational costs low, thanks to corporate sponsors, generous individual donations, donated goods and services, hard-working volunteers, and the continued support of so many regular people in the community.

Some notable highlights from the Run to Feed the Hungry over the years:

The record for the coldest temperatures for a Run to Feed the Hungry was in 210 when it was a bone-chilling 28 degrees on Thanksgiving morning!

While this race is for charity and there is plenty of family fun to be had, it’s also a serious road race. In fact, some of the top times for the 5K include 14 minutes and 50 seconds for the male group, or 17 minutes, 10 seconds for the female group.

For the 10K, best times include an impressive 30 minutes, 13 seconds for the male group and 36 minutes, 4 seconds for the female group.

Celebrating diversity and access to the event for all Sacramentans, there is now a wheelchair race category at this Turkey Trot. Racers with lower body disabilities or other injuries can compete with hand-powered cycles.

Joining a team to raise money and run as a group is a big part of the race’s fun. In the past, it took a minimum of 20 registered runners to form a team, but now, it’s much more fun since only four people can sign up as their own team.

The record for the largest group at the Run to Feed the Hungry was by Christian Brothers High School, when 449 students, teachers, and parents ran in the same team, barely beating out rival St. Francis High School’s 446-person team.

Fun and funny hats, costumes, and other props have become an entertaining tradition at the Run, whether for racers, walkers, or even bystanders and volunteers. You’re likely to see everything from hats resembling turkeys, corn cobs, slices of pie, full turkey and bunny suits, plenty of men and women in tutus, painted faces and brightly colored socks and gear.

Along the race course, there are even bands set up intermittently, playing lively music to entertain and encourage the crowd. One of my favorites is the Elvis Impersonator that usually plays near the 65^th Street junction!

The unsung heroes that make the Run to Feed the Hungry possible every year are the volunteers. In fact, about 650 caring citizens signed up to help out at this year’s race, showing up as early as 4 am to perform tasks like setting up, directing crowds, passing out water, working the registration tables, and cleaning up and picking up trash. If you’re at the race, thank one of these warm-hearted people in orange shirts!

If you’d like to run, attend, or even volunteer, here are some more details about this year’s Run to Feed the Hungry:

What:

10K Run & 5K Run/Walk to support Sacramento Food Bank & Family Services

When:

Thanksgiving morning - Thursday, November 23, 2017 — Rain or Shine!

10K - 8:15 a.m. • 5K - 9 a.m.

Where:

The race starts on J Street just west of the entrance to the Sacramento State campus and runs through the beautiful tree-lined streets of East Sacramento.

How much?

Regular Registration (Friday, November 16 - Wednesday, November 22) - $40

Race Day Registration (Thanksgiving Day, November 23) - $45 *Race day registrants will not be timed

Registration:

https://raceroster.com/events/2017/13212/run-to-feed-the-hungry-10k5k

For more information, visit www.runtofeedthehungry.com/

For more information:

For general information call (916) 456-1980.

Research shows that if you want to be wealthy, don’t do THIS…

There are plenty of factors that predict future wealth, from education levels to career choices, saving habits and, yes, home ownership. But one fact that's often overlooked when discussing the road to riches is that people who get married – and stay married – end up with significantly higher net worths.

Of course, it’s an unfortunate fact of life that “I do” sometimes becomes “I don’t,” and couples file for divorce. In fact, the divorce rates in the U.S. have grown significantly in the U.S over the last two decades and now sit between 40 and 50 percent.

We can listen to anecdotal marital advice from happily wed icons like Robert Kiyosaki, Warren Buffet, and other wealthy patrons, who attribute stable and sustained matrimonial partnerships as part of the teamwork philosophy that helps them succeed. But studies and hard data also show that personal wealth is significantly eroded with divorce – and that getting and staying married is one indicator of obtaining financial comfort.

A study published in the Journal of Sociology found that over time, divorce reduces a person's wealth by an average of 77 percent compared to that of a single person, while being married almost doubles comparative wealth, to 93 percent.

Furthermore, a report by the General Accountability Office determined that women's household income fell 41 percent on average post-divorce, while it was 20 percent for men.

Of course, the financial burden during the divorce process and when someone is newly single can be crushing, but it's more than just the burden of basically doubling household costs as they are now living single.

First off, the cost of divorce can be prohibitive. If the divorce is contentious, both parties get legal counsel, there are children in the picture, or considerable assets to divide, the price tag can mount quickly. According to MaritalStatus.com, the average cost of a divorce in the U.S. is now about $20,000 to $30,000.

There is also the huge financial blow that comes from paying alimony and child support, which further stretches individual budgets for costs that don't exist for married couples.

Here are some other ways that a divorce will erode finances and inhibit wealth:

·      Credit cards and mortgage banks aren't bound by divorce decrees. That means that you can't just simply take your name off of a mortgage or credit card debt just because you are deciding to split it that way in the divorce.

·      The only way to get a mortgage out of your name is if the other person refinances (and they will have to qualify) or possible through a modification in some rare cases. The only way to get a credit card out of your name is to pay it off or transfer the balance to another card.

·      If one person files bankruptcy, but the other ex-spouse does not, then that person is still legally responsible for the debt obligation. For instance, California is a "Community Property State." That means that any debt you acquired during the marriage, even if it isn't in your name, is your obligation.

·      The taxation picture can change drastically. Couples need to check with the IRS and their tax preparer as to what changes need to be made, but in general, alimony is taxable income to the recipient and a deductible cost to the payer. Each year, almost 600,000 federal tax returns report paying an aggregate $10.7 billion in alimony!

·      Credit score is often impacted. When you obtained credit, you and your spouse engaged in a contract agreeing to pay your bills. Unfortunately, a divorce decree doesn't change that contract. When you divorce, each of you remains fully liable for your debts.

Being faithfully wed for the long term also offers the advantage of economies of scale. From health insurance to automobiles, mortgage payments to vacation spending, only paying once as a unit ostensibly doubles their spending power.

And over time, those saved funds grow exponentially when used for the right purposes, like paying off debt, investing, etc. That’s one key reason why married people end up having significantly higher net worths than their unmarried or divorced counterparts.

In fact, research into the topic by Jay Zagorsky, a scientist at The Ohio State University, found that each person that gets (and stays!) married ends up with about double the wealth of a single person, or those who never get married. But since there are two to a married couple, that means their combined wealth is actually four times that of a single person’s!

According to the Census Bureau, the median net worth for a married couple between the ages of 55 and 64 is $261,405, compared to only $71,428 for a man heading a household and $39,043 for a woman heading a household.

But is it that married people accumulate more wealth, or wealthier people are getting married? Both are probably true, according to studies. People with higher education and income levels tend to marry at higher rates and divorce less than their less educated and lower means counterparts.

According to a 2014 study, in households that made:

$125k income or more were 51% less likely to get divorced

$100k-$125k 42% less likely to get divorced

$50k - $100k 39% less likely

$25-$50k only 31% less likely to get a divorce.

Ironically, the most significant decreases in marriage rates and increases in divorce rates have come among the poor and lower class in recent years – the exact demographic who would benefit the most from joining and pooling their finances.

Furthermore, in most marriages, one spouse or the other takes a leading role in financial management. It's not that the other isn't capable, but it just makes sense that two people don't overlap their work, time, and energy handling the same task. So after a divorce, you usually end up with one person unaccustomed to managing their finances but thrust unwittingly into that role with little help or support.

From a real estate standpoint, the theory that divorce erodes wealth makes perfect sense. Consider that it often takes two people to qualify for a mortgage when it comes to compiling a down payment, fitting into the Debt-to-Income parameters, and especially making the monthly payment. But couples that stay married are also more likely to pay down and pay off their mortgage, invest in rental properties and other real estate, and prioritize saving for the future instead of frivolous personal spending.

There are plenty of other childcare, retirement, tax filing and household cost advantages for married people.

So, love aside, if you want to become wealthy, get married and stay married!