Understanding the Far Reaching Societal Impact of Strategic Mortgage Default
19 Pages Posted: 12 Jul 2014
Date Written: June 20, 2014
This article discusses the often overlooked ramifications of strategic mortgage default and the widespread implications it has on our sense of community, economic and financial stability, as well as mental and physical well-being. Too often studies examine only the one-off economic effects of strategic default, or more broadly, the foreclosure contagion effect. But, recent work in the mainstream finance literature suggests larger picture issues such as national health care costs are also substantially impacted by major market movements such as the recent U.S. housing bubble.
Keywords: strategic mortgage default, morality, real estate law, health
JEL Classification: K11, K12, K41, R20, R21
Suggested Citation: Suggested Citation