Buyers get a deal with a side of guilt
How to overcome economic survivor guilt
The news organization USA Today reported that months after the financial meltdown, a phenomenon called economic survivor guilt started to creep into the American society.
Economic survivor guilt is defined as the uncomfortable feeling of “capitalizing off of somebody else’s misfortune.”
In Las Vegas and surrounding Clark County, this economic survivor guilt is specifically prevalent.
This phenomenon is specifically prevalent in Las Vegas and surrounding Clark County as a great number of homes in these areas are owned by banks.
Last July, one in 13 homes in Las Vegas and surrounding Clark County was owned by banks, this according to data aggregator RealtyTrac.
The data aggregator reported that for the month of August, the state of Nevada lead in the U.S. foreclosure rate list. One in every 62 housing units in Nevada received a foreclosure filing in August, the data aggregator added.
This over supply of foreclosed homes in Las Vegas and surrounding Clark County brought home prices down to a bargain level.
The bargain price of homes is reason enough to rejoice and take advantage of the market, but there are individuals who are comfortable with the idea that they are benefiting from the downfall of others.
One realtor told the news organization that whenever prospective buyers articulate their guilt feeling on buying bargain-priced homes, he would tell his clients that they are not to be blamed of the situation at that instead seize the market opportunity for the benefit of their families.
Sylvia Lafair, psychologist from Santa Fe, N.M., told the news organization that buying a bargain-priced home is similar to buying a discounted stock. The difference though, Lafair said, is that in buying a discounted stock, a buyer does not in any way comes in contact, directly or indirectly with the owner.
One way of overcoming this economic survivor guilt, she said, is for bargain-priced home buyers to balance this guilt feelings with philanthropic deeds. One example, she said is by donating unnecessary old stuff to the shelter or Salvation Army when moving to the newly bought home.