Foreclosures Are Bad For Your Health

When looking at the Real Estate market, we view it from the prism of the overall economy and its relation to the financial crisis. What many of us don’t look at is the psychological impact foreclosures and falling home prices have on homeowners.

A study conducted by the American Journal of Public Health show that of the 2,500 homeowners studied, 22% of them were showing depression symptoms while 28% reported food insecurities, according to the Wall Street Journal.  The financial crisis has taken a heavy toll on the middle class.

The stress of losing your home can have a profound negative effect on a homeowners mental state leading to depression, anxiety, and other forms of mental illness. Another study by Princeton University show a correlation of high foreclosure rates with the increase in emergency room visits in distressed markets in California, Nevada, and Florida.

When people begin to lose everything, there sense of clarity and reality becomes blurred, where they no longer have confidence in themselves to work and provide for their family. Buyers may the advantage in this market, but sellers are the one of the many victims in this financial crisis.

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~ by fnunez on November 14, 2011.

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