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Ways Your Money Habits Make You Sick: Owning a House You Can't Afford

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You Own a House You Can’t Afford

The number of foreclosures across the country isn’t just bad for the economy; it’s taking its toll on the nation’s mental health, too. Researchers at the University of Pennsylvania School of Medicine interviewed 250 homeowners who were going through foreclosure proceedings, and found that 37 percent had symptoms associated with major depression, including difficulty sleeping, feelings of hopelessness, irritability and thoughts of suicide. “The foreclosure crisis is also a health crisis.” declared lead author Craig E. Pollack.

Solution: Needless to say, if you are house shopping, put at least 10 percent down — 20 is better — and don’t buy a house that will require you to spend more than 30 percent of your salary. If you’re already facing foreclosure, seek help; a therapist can treat depression and help you improve your mood.

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