The Experience of Homeownership Loss
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Authors
Haupenthal, Simone
Issue Date
2015
Type
Dissertation
Language
en
Keywords
"2007 Housing Bubble","Mortgage Crisis","Economic Recession","Depression During Recession","Disenfranchised Grief","Recession and Mental Health"
Alternative Title
Abstract
This is a qualitative study on the experience of homeownership loss. The collapse of the housing bubble in 2007 and the financial crisis forced many homeowners into foreclosure or strategically defaulting on their payments, as many home mortgages were underwater. A semi-structured interview was conducted with 10 participants who shared their stories and feelings regarding homeownership loss, and a qualitative content analysis was utilized to analyze the data. Participants were 40% Caucasians and 60% Latinos, with half of all participants being males and the other half females. The common themes that emerged among the participants' experience of homeownership loss included positive and negative feelings regarding owning a home, anger and helplessness toward financial institutions, being evicted, relationship conflicts, the impact on children, and increased psychological and health concerns. The discussion focuses on how loss affects the individual, family, and participant's mental health. Clinical implications and directions for future research are also discussed.