50 years ago women couldn’t apply for a mortgage
Let that sink in
The Female Quotient
December 16, 2025 • Estimated Reading Time: 12 minutes
WHAT’S ON DECK
Tell Me More: Financial history that’s more recent than you thought
Troublemaker Spotlight: Sandy Gilsenan, Chief Retail and Customer Experience Officer, Warby Parker
Inside Track: Leaders on the move
Dear FQ: The holidays are coming…do I have to buy my co-workers gifts?
Poll the Pack: Back to basics
TELL ME MORE
No Husband. No Problem.
Today women don’t just manage the house. They own it. A fifth of all U.S. home buyers in 2024 were single women, compared to just 8% single men. This trend highlights the growing financial independence and decision-making power of women reshaping the housing market.
But that wasn’t always the case. Once upon a time, women were unable to even open a credit card without a male co-signer…even if they had a higher income than said co-signer. If a woman was married, she could get a credit card via her husband, but it would have his name on it with a prefix of “Mrs.” What year did such archaic things take place? 1974.
That’s right, just over 50 years ago, financial autonomy for women was almost impossible. Women couldn’t easily open a bank account, own property, or secure a loan without a man’s signature. The Fair Housing Act of 1974 and the Equal Credit Opportunity Act of 1974, made it so that a lender could not discriminate based on gender or marital status. Two years later, additional protections regarding race, religion, nationality, and age were added.
But it didn’t stop there. Mortgage lenders sometimes asked for proof that a woman was on birth control. Why? Because until 1978, it was legal to fire a woman for being pregnant. If a couple wanted to include a woman’s income on a mortgage application, some banks required a “baby letter,” a signed statement from her doctor confirming that she’d had a hysterectomy or was on birth control and wouldn’t get pregnant. This was the bank’s way of ensuring she could keep her job and, therefore, her ability to pay. This wasn’t centuries ago. This was within a single generation.
In 1978 the Pregnancy Discrimination Act was finally signed into law, protecting women from being fired, demoted, or denied opportunities because they were pregnant.
By 1981, 73% of U.S. homeowners were married couples, while single women homeowners outnumbered single men 11% to 10%. Fast forward to 2024, and according to the National Association of Realtors, 20% of homebuyers were single women and 8% were single men. In other words, single women own 2.72 million more homes than single men.
Homeownership isn’t easy for anyone right now, but it’s even harder for women. The gender wage gap means women earn just 85 cents for every dollar men make. Add in rising housing costs, higher mortgage rates for women (yes, even though women default less), and bias baked into the housing industry and the road gets steeper.
So how important is owning a home to women? Just look at where their money goes: Single women spend 92% of their income on housing. Single men? Only 67%.
Despite these obstacles, women have been making up for lost time. The stats are even more remarkable when you realize women have only been part of the housing market for half a century. By 2030, it’s projected that women will be in control of $34 trillion dollars or almost 40% of all investable assets in the U.S. Combined with an expected intergenerational wealth transfer, women will be in their strongest financial position ever. That kind of financial autonomy and power? Priceless.
We’re thrilled to announce a first-of-its-kind partnership with Delta Air Lines to launch Women on the Rise: Boarding Pass, a curated list of Delta SkyMiles perks designed for you. Together, we’re making every mile go further, in business and in life.
TROUBLEMAKER SPOTLIGHT
Sandy Gilsenan, Chief Retail and Customer Experience Officer, Warby Parker
If you’re reading this with glasses, you might have Sandy Gilsenan to thank. She is the Chief Retail and Customer Experience Officer at Warby Parker, where she touches just about everything from retail operations to eye care and vision services. She began her career in the retail space as a sales associate at Gap. From there, she worked her way up to positions as Vice President of Store Operations for J.Crew and Madewell, and Senior Vice President for North America at Sweaty Betty USA. Sandy’s vision for the future of work? Crystal clear.
What’s the worst career advice you’ve gotten?
Chase the quick win. I was told to prioritize promises of title or pay, but real growth doesn’t come with shortcuts. I've learned that the most significant rewards aren't always immediate; genuine growth often requires time, development, and a willingness to take on responsibilities beyond your initial scope. Embracing these challenges, even without an explicit promise of reward, ultimately strengthens you and broadens your expertise.
What’s the best piece of non-obvious career advice you’ve gotten?
Intentionally move out of your comfort zone and pivot into a new area, even if it means leaving a job you love. Moving laterally within the same organization pushed me, and was a catalyst for unexpected development and learning.
What was a “heartbeat moment” for you in your career?
I received an email from a customer detailing how her Warby Parker glasses had been a constant companion through numerous life events, from personal milestones like buying her first home to everyday occurrences like face-planting in a parking lot. Her email radiated such genuine appreciation for the product and the people behind the brand.
It served as a powerful reminder that we are not just creating glasses, but a means for people to both express themselves and face the world with confidence. It was a heartbeat moment for me, as it affirmed the purpose and value of what we do and reinforced that I am exactly where I'm meant to be.
Imagine you just received a prestigious retail award. Who are the people you’re thanking that aren’t at your current gig?
I want to extend heartfelt thanks to four people: Jill, my manager at my prior workplace, who provided unwavering mentorship and believed in my potential, even when I doubted myself.
My closest friend, Michelle, an out-of-the-box thinker who challenges me to be creative within the retail space. She’s greatly impacted my approach to problem-solving.
Mickey Drexler, who taught me the importance of customer-centricity and building genuine relationships. His dedication to understanding and serving the customer deeply influenced my own values.
And finally, my father, who instilled in me an unwavering work ethic that has been a cornerstone of my career.
Where have you caused some good trouble in your career?
I caused good trouble by championing the adoption of our point of sale software, which we call Point of Everything (POE). Initially, there was resistance to integrating new technology and disrupting established workflows. But POE had immense potential to streamline operations, enhance efficiency, and improve the customer experience. Through persistent advocacy, demonstrating its benefits with data, and actively collaborating with various teams to address concerns, I helped drive its successful implementation, ultimately transforming how we approached a key aspect of our business.
Want to nominate a “Troublemaker” you admire? You can do so here.
INSIDE TRACK
Leaders on the move
Denise Holland Dresser has been named Chief Revenue Officer at OpenAI. From leading global sales at Salesforce to steering Slack as CEO, Denise has shown the world what people-first innovation looks like. As AI rewrites the future of work, seeing women like Denise in positions of power isn’t just inspiring; it’s essential. Because the future of technology should reflect the people it serves. Her leadership is a reminder of how vision, empathy, and experience can shape technology for the better.
History made: Paula Hammond Cunningham has been named the first woman dean of the MIT School of Engineering. A trailblazer in polymers and nanomaterials and a champion for inclusive excellence, Paula’s leadership is shaping a bold future for engineering in the age of AI. Her commitment to cross-disciplinary collaboration, innovation in teaching, and advancing equity reflects the kind of conscious leadership the world needs.
Bryony Winn is the next CEO of BAYADA Home Health Care. She brings a powerful track record of advancing equitable, accessible, and compassionate care. Her appointment marks a pivotal moment for women in leadership and the future of value-based healthcare, where care is centered in compassion, equity, and outcomes that serve everyone.
DEAR FQ
Your burning career questions answered
Savannah Llewellyn of The Female Quotient weighs in:
’Tis the season…to worry about work presents. They can feel tricky, especially when you’re new to a role or team. Since every workplace has its own traditions, feel free to ask your manager or colleagues if they participate in gift exchanges like Secret Santa or White Elephant. A quick check-in can help you understand expectations and avoid overthinking.
If holiday events are happening and you prefer not to participate (be it for personal or financial reasons), it’s okay to opt out. A thoughtful holiday card or some homemade treats can also go a long way in expressing gratitude and fostering connection; sometimes it can be even more meaningful. Keep some extra cards on hand. That way, if someone gets you a gift and you don’t have one for them in return, you’re able to reciprocate with a heartfelt note.
To wrap it up 🎁, the goal is not to mirror someone else’s gesture, but to show up thoughtfully and authentically in a way that feels true to you.
P.S. Got a burning career question? Serve it up here to Dear FQ to score advice from a powerhouse leader in our network.
POLL THE PACK
Culture check: What’s really missing at work?
We have a three-way tie that speaks volumes! Employees want their companies to go back to basics: Communication, accountability, and psychological safety.
Communication starts with leadership. A leader who positively communicates helps foster an environment where respect is paramount. Communication makes way for trust, collaboration, and happier employees.
Accountability means clear ownership, honest feedback, and follow-through. When expectations and goals are transparent, teams work better, with more trust and collaboration.
Psychological safety means people can speak up without fear. When teams feel safe to take risks or make mistakes, you get better ideas, honest feedback, and real learning.
The message is clear: Perks don’t build strong cultures; fundamentals do. Get the basics right, and the results will follow.
Here’s to ownership, figuratively and literally 🏠
Xo,
The FQ
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