The Effects of COVID-19 on Women
Women have been disproportionately impacted by the COVID-19 pandemic, from job loss to evictions and foreclosures. According to The National Women’s Law Center, 80 percent of U.S. jobs lost during the COVID-19 pandemic were held by women. The United Nations (UN) has reported that 40 percent of all employed women globally work in the industries hardest hit by the COVID-19 pandemic.
“In the Richmond Metro area, 1 in 7 households pay half or more of their income on their home, “says Mary Kay Huss, CEO of Richmond Habitat, “Women, especially women of color, are disproportionately affected by this severe cost-burden and make up a larger share of households living in poverty and receiving government-subsidized housing. In FY19, 100% of our homebuyers were women of color. In FY20, 100% of our homebuyers were women.”
Despite the unprecedented challenges women are facing, women remain on the frontlines of the pandemic as essential workers, as caretakers within their households, and too often have to make the difficult decision between maintaining a place to call home and paying for food, health care, childcare, education or reliable transportation. Harvard University’s State of the Nation’s Housing 2020 report revealed that 37.1 million U.S. households spent more than 30 percent of their incomes on housing in 2019, including 17.6 million spending more than 50 percent. The effects of the pandemic have further highlighted the need for safe and affordable housing, as 29 percent of renters and 36 percent of homeowners experienced employment income loss between March and September of 2020.
Richmond Habitat recently conducted an Impact Survey to see how their homeowners’ lives have changed due to the opportunity to purchase an affordable home through Habitat. One of Habitat homeowner had this to say of her experience:
“Habitat is a good program. It really helped me as a young single-mom to get out of my mom’s house and provide my own home for me and my children. With the affordable down payment and affordable mortgage, it really helped me be able to go to school, take care of my family, become more successful, and reach my goals of becoming a nurse.”
This story is not unique. Every day, millions of women face the challenge of a future without adequate, stable housing. This issue underscores the importance of Habitat and Lowe’s efforts to bring awareness to the issue, as well as a partnership focused on ensuring that more women have access to affordable housing.
