Search Results
Author: Neilson, Lisa A.
Resulting in 2 citations.
| 1. |
Dwyer, Rachel E. Neilson, Lisa A. Nau, Michael Hodson, Randy |
|
Mortgage Worries: Young Adults and the US Housing Crisis Socio-Economic Review 14,3 (July 2016): 483-505. Also: http://ser.oxfordjournals.org/content/14/3/483.abstract Cohort(s): NLSY97 Publisher: Oxford University Press Keyword(s): Debt/Borrowing; Economic Changes/Recession; Health, Mental/Psychological; Home Ownership Permission to reprint the abstract has not been received from the publisher. The 2008 housing crisis and the changes in lending practices that led up to it shook the status of home loans as secure debt in the USA. The crisis hit during a time when many young adults had recently bought their first home, making it a particularly consequential moment in their homeownership career. We investigate the effects of the housing crisis on the mental health of young homeowners using longitudinal data. We model levels of anxiety among young homeowners carrying mortgage debt before and after the recession as an early indicator of how the crisis affected the experience of home loans. The positive effects of being a mortgaged homeowner before the recession declined significantly after the housing crisis. We discuss whether this shift may portend a longer-term shift in American beliefs in the value of investing in housing, with significant implications for financial well-being and wealth stratification. |
|
|
Bibliography Citation
Dwyer, Rachel E., Lisa A. Neilson, Michael Nau and Randy Hodson. "Mortgage Worries: Young Adults and the US Housing Crisis." Socio-Economic Review 14,3 (July 2016): 483-505.
|
| 2. |
Hodson, Randy Dwyer, Rachel E. Neilson, Lisa A. |
|
Credit Card Blues: The Middle Class and the Hidden Costs of Easy Credit The Sociology Quarterly 55,2 (Spring 2014): 315-340. Also: http://onlinelibrary.wiley.com/doi/10.1111/tsq.12059/abstract Cohort(s): NLSY97 Publisher: Wiley Online Keyword(s): Credit/Credit Constraint; Debt/Borrowing; Depression (see also CESD); Financial Behaviors/Decisions; Health, Mental/Psychological; Stress Permission to reprint the abstract has not been received from the publisher. In an era of increased access to credit, it becomes increasingly important to understand the consequences of taking on unsecured consumer debt. We argue that credit can have both positive and negative consequences resulting from its ability to smooth life transitions and difficulties but that this occurs simultaneously with increased financial risks and stress resulting from carrying unsecured debt. We find that those in the middle of the income distribution suffer the greatest disruptions to mental health from carrying debt. Affluent borrowers are relatively unmoved by debt, suggesting the use of short-term debt as a convenience strategy for the financially well heeled. The least advantaged borrowers also suffer emotionally less from debt, possibly because securing spendable funds for necessities remains their most pressing concern. The onset of the Great Recession, however, produced increased emotional distress for all classes. |
|
|
Bibliography Citation
Hodson, Randy, Rachel E. Dwyer and Lisa A. Neilson. "Credit Card Blues: The Middle Class and the Hidden Costs of Easy Credit." The Sociology Quarterly 55,2 (Spring 2014): 315-340.
|