This is not a surprising discovery but interesting enough to post it. Stress has a direct impact on one’s health, foreclosures are stressful. One key distinction I would like make is the entire economic circumstances that someone finds themselves in that leads to foreclosure is the stress, not the foreclosure itself. For example, you lose your job due to cutbacks or health reasons – the stress begins then, not when you get to the Sheriff’s sale of your home…
If you happen to be in this situation, try not to get too stressed about it – you are not alone. Millions of people have recently gone through it and survived. If you have questions on the process or in need of real estate consultation, feel free to contact me.
The threat of losing your home is stressful enough to make you ill, it stands to reason. Now two economists have measured just how unhealthy the foreclosure crisis has been in some of the hardest-hit areas of the U.S.
New research by Janet Currie of Princeton University and Erdal Tekin of Georgia State University shows a direct correlation between foreclosure rates and the health of residents in Arizona, California, Florida and New Jersey. The economists concluded in a paper published this month by the National Bureau of Economic Research that an increase of 100 foreclosures corresponded to a 7.2% rise in emergency room visits and hospitalizations for hypertension, and an 8.1% increase for diabetes, among people aged 20 to 49.
Each rise of 100 foreclosures was also associated with 12% more visits related to anxiety in the same age category. And the same rise in foreclosures was associated with 39% more visits for suicide attempts among the same group, though this still represents a small number of patients, the researchers say.
- Tying Health Problems to Foreclosures (online.wsj.com)