We had to scroll down quite a ways in CNBC’s story to find out why, exactly, members of the LGBTQ community are saying high mortgage rates are hitting them especially hard. They tell the story of one gay man looking to buy his first home, but there doesn’t seem to be anything out of the ordinary.
'I can't win in this market': Why LGBTQ homebuyers say mortgage rates are hitting them especially hard https://t.co/FdFl0VDlDe
— CNBC (@CNBC) June 19, 2022
Apparently, this is the problem:
This rapid rise in the cost of a home is particularly impactful for the LGBTQ community, which is less likely to own a home. First-time homebuyers have to pay the higher prices without getting a boost from the value selling an existing property that they own.
According to the Williams Institute at the UCLA School of Law, 50% of LGBTQ adults and 64% of LGBTQ couples own their own homes. For non-LGBTQ groups, those numbers are 70% and 75%.
That sounds like it would be a barrier to all first-time homebuyers regardless of sexuality. CNBC notes that “historical data on home ownership rates by sexuality were not tracked by the Census Bureau.”
— Clown World Today 🤡🌎 (@cwt_news) June 20, 2022
You could just say that the younger generations are having issues getting housing but I forgot that only certain humans matter anymore.
— Harry Balls Jr. (@JohnSmi70702885) June 20, 2022
I’m having a hard time finding the LBGTQ mortgage rates online, need to verify this before I comment further…..
— Nibby (@neubauer_adam) June 20, 2022
You guys it turns out there aren’t special mortgage rates for LBTGQ community vs non LBTGQ community……weird. 🤡
— Nibby (@neubauer_adam) June 20, 2022
But my wife and I aren't a part of that community and we're struggling to buy also. Strange. Maybe if I show lenders this article, our marriage license, our children's birth certificates, and our genitals it'll help!
— mp1022 (@frank_devoe) June 20, 2022
You know, I was never asked my sexuality when I applied for my mortgage 🤔 oh wait,it says that LGBTQ people are saying this. Not that it's a fact with any data to support it. Just feelings.
— Mark (@MarkyMcMarksman) June 20, 2022
I'm hetero so I get a free house.
— satstream (@satstreamFC) June 20, 2022
JFC @CNBC, this type of virtue signaling journalism is why the majority of people distrust the media.
The mortgage rates are hitting EVERYONE hard and it's made it more challenging for ANYONE to buy a home, regardless of their ethnicity, gender or sexuality.
— RealDCNative (@RealDCNative) June 20, 2022
What inspired this article? Pride Month? What’s the point and what is anyone supposed to do about it?
Related:
LGBTQ Nation sounds the alarm over the havoc overturning Roe v. Wade could wreak on LGBTQ people who want to start families https://t.co/nDFcUFmj1Y
— Twitchy Team (@TwitchyTeam) June 17, 2022
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