'We're just existing, not living!' Mortgage stress and the concealed costs of coping with crisis

Title: 'We're just existing, not living!' Mortgage stress and the concealed costs of coping with crisis
Authors: Waldron, Richard
Redmond, Declan
Permanent link: http://hdl.handle.net/10197/8142
Date: 24-Aug-2016
Abstract: Following the financial crisis, an extensive literature has examined the vulnerabilities facing mortgagors in default and foreclosure. However, in addition to these 'overt casualties' of the crash, many households are struggling to meet their mortgage payments by enduring severe cutbacks to their quality of life. The experiences of these 'unrevealed casualties' of the financial crisis and the coping strategies they employ to respond to mortgage stress remain under-explored. Drawing on survey data of Irish mortgagors (n = 433), this paper examines the impacts of mortgage stress upon quality of life and mortgagors' coping strategies to respond to their financial difficulties. The findings suggest that mortgage stress affects a broader range of households than previously considered; mortgage stressed households adopt a range of expenditure, employment, finance and housing-related responses; and more punitive responses correlate with greater mortgage stress levels, thereby providing a fuller account of the real cost of coping with the crisis impacts.
Funding Details: Irish Research Council
Type of material: Journal Article
Publisher: Taylor & Francis
Copyright (published version): 2016 Informa UK Limited
Keywords: Mortgage stressFinancialisationCoping strategyHomeownershipQuality of lifeIreland
DOI: 10.1080/02673037.2016.1224323
Language: en
Status of Item: Peer reviewed
Appears in Collections:Architecture, Planning and Environmental Policy Research Collection

Show full item record

SCOPUSTM   
Citations 50

2
Last Week
0
Last month
checked on Aug 9, 2018

Google ScholarTM

Check

Altmetric


This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.