Women take over: A study of gender and homeownership

In 2004, SS of the 324 Metropolitan Statistical Areas (MSAs) were experiencing rapid appreciation in the housing market. Homeownership rates were at 69%. With low interest rates and strong employment, many renters were looking to purchase. Women were an increasing segment of this population. The literature revealed a lack of consensus regarding women homebuyers and credit capacity. Most studies regarding women in mortgage lending revolve around credit, ethnicity, and discrimination. The purpose of this study was to determine whether gender discrimination exists in mortgage lending, regardless of race or ethnicity, while controlling for MSA and loan type. Few studies on mortgage lending and credit have found interest in factors other than race. Some studies have focused on the familial status of women in mortgage lending and the lack of sufficient income. Others have provided research on racial inequality in mortgage lending with regard to women, particularly the dual aspects of race and gender. Women, as the fastest growing segment of the home purchasing market, merit further research. The 3 themes studied in this research were the history of working women, including legislation that has impacted females. Second, the 2 MSA's used in the study, Las Vegas-Paradise and Ft. Myers-Cape Coral were reviewed for their history and market conditions in 2004. The third theme is the foundation of discrimination and its history in mortgage lending. This study used a quantitative approach, and graphs, charts, and percentages presented in figures. The researcher answered questions regarding approval rating and gender, loan disposition and gender, loan denials and gender, race, ethnicity, and gender. The Home Mortgage Disclosure Act (HMDA) was the source of the raw data for this study. Data is reported by lender and then aggregated by MSA. The findings show no discrimination against females. The results show that males had a higher percent of denials. MSA and loan type did not have an effect on these results. The research did support prior studies that Black/African Americans are discriminated against, especially Black/African American females. Based on this study, there is not sufficient information to identify discrimination in mortgage lending based on gender