Think that the current real estate market continues to have an effect on more than just homes and wallets? You betcha. We just checked out a recent Executive Report by Causa Justa: Just Cause (CJJC) and the Alameda County Public Health Department about the detrimental aspects that the foreclosure crisis continues to have on mental health.
The report revealed not only the economic consequences but also the impacts on people and families through a community (in this case Alameda county, and Oakland in particular).
Some of the more disturbing factors include: that 4 in 10 residents currently or recently experiencing foreclosure reported that they have to limit spending money on food and household maintenance/utilities when they lack money. Over 3 in 10 say they forgo medical care.
Even more distressing would be the emotional findings that include: residents currently or recently experiencing foreclosure are 2 times more likely to report that their mental/emotional health has become worse over the past two years. Also, foreclosed residents are two times more likely to report that they have experienced problems of stress, anxiety and depression over the past month (compared to those not foreclosed on).
The reports offers quotes that hit hard such as this comment from one Oakland resident, “ Foreclosures are depressing. They decrease morale and leave people with no sense of ‘home’ ”.
The report also outlines neighborhood decay, blight and crime and mass displacement.
Although the report can be seen as depressing, it definitely serves as an eye-opener to the other reports and studies that just outline the fiscal impacts of businesses, cities and individuals.
Image credit: St. Jude Medical