Monday, May 19, 2008

Foreclosures have deep psychological impacts that ripple throughout many spheres.

New York Times has a piece on the psychological impact of the foreclosure crisis.

The author makes a good point: People not directly affected tend to view those affected as being primarily responsible and let all the other actors off the hook.

This result seems to occur when the primary target of the blame (homeowners) is not the primary responsible party.

Go figure.

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