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Distressed Properties Taking Toll on American Children
Arcadia Weekly Oct 08, 2012
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By Rudy L. Kusuma
A new study put out by the Children’s Hospital of Philadelphia (CHOP) has shed some light on the fact that adults aren’t the only ones who feel the effects of foreclosure and financial distress. In fact, children may be suffering more than their parents.
After gathering data from 38 children’s hospitals across America from 2000 to 2009, CHOP’s PolicyLab found a strong correlation between the rate of child physical abuse and local foreclosures. In the years the study looked at, overall physical abuse rose 0.79% per year.
In another report, published by First Focus and the Brookings Institution, researchers found that foreclosures affect more than 8 million children in the United States. They estimated 2.3 million children are living in homes that have already been foreclosed on, and an additional 6 million children live in rented or owner-occupied homes that are at risk of foreclosure in the near future.
This study also mentions that numbers dating all the way back to the Great Depression show that financially distressed parents are more likely to engage in harsher, less supportive parenting. This behavior adds the risk of psychological trauma in addition to the greater risk of physical trauma.
The housing crisis has affected us all on some level, but for those going through foreclosure, the process can be especially trying. Many don’t even know that they may have other options. That’s why it is imperative that homeowners are as educated as possible when it comes to their distressed properties.
About the Author
Rudy L. Kusuma is a licensed real estate broker. He specializes in complex transactions representing property owners in disposition of their real estate, and has significant experience in pre-foreclosure sales, short sales, divorce sales, trust, and probate. You may contact him by telephone at 626-780-2221 or visit his website www.TeamNuVision.net
