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Hmmm, yes. We don't know the impact of this crisis yet.

Statistical relations between economic crises ans suicides are well known. The modern libertarian ethics that you yourself are to blame for any financial troubles may have strengthening effect, whether you keep the ethical belief or realize you got fooled...

There are recent Katrina survivors studies that show psychological things get worse with them as times go by, so far.

by das monde on Mon Nov 5th, 2007 at 03:44:41 AM EST
[ Parent ]
Another foreclosure hazard:

Housing crisis leads some former owners, tenants to take anger out on property

As many as 25 percent of Las Vegas' bank-foreclosed homes suffer intentional damage, according to an informal R-J survey of valley appraisers and real estate agents. [This] damage -- most of which is inflicted in the four to 12 months between the notice of default and the constable's knock at the door -- typically requires $3,000 to $10,000 to repair. However, it can approach or exceed 10 percent of a home's total value.

"Some of the time, the house's worth is a detriment to the land value. [It's] amazing what some people will do to their houses."

The percentage of foreclosures with damage is actually on the decline, the interview subjects agree.

"In the late '90s, 60 percent were damaged. [It's] a lot less now due to the fact that a lot more new homes are being foreclosed on. Some have never even been lived in."

At the same time, the number of damaged houses is rising because of the sheer explosion of foreclosures.

A couple of interesting videos are accessible here.

by das monde on Mon Nov 5th, 2007 at 09:14:49 PM EST
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