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May. 07, 2008
Copyright © Las Vegas Review-Journal

Nearly 40,000 Nevada kids will be affected by foreclosure

THE ASSOCIATED PRESS

RENO -- A national report estimated nearly 40,000 children in Nevada will be affected as their families lose their homes to foreclosure.

The report by First Focus, a Washington, D.C.-based child advocacy group, also found that children of families who suffer foreclosures or evictions do worse in school and have a higher risk for physical or mental health problems.

The projections were based on racial and ethnic data reported under the Home Mortgage Disclosure Act. An estimated 2 million children will be negatively affected nationwide by foreclosures from 2008 to 2009.

The report does not break down numbers by county. In March, Washoe County accounted for 8.2 percent of foreclosure activity in the state and Clark County 88.5 percent, according to RealtyTrac's monthly foreclosure report.

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    • Dr. Ole Theinhaus, chairman of the University of Nevada School of Medicine psychiatry department, said dealing with eviction is one of the most stressful and traumatic events in a child's life. And when kids have to deal with issues in their personal lives, academic performance and behavior at school are typically the first casualties.

    "Their energy is concentrated somewhere else, so school takes a back seat," Theinhaus said. "Kids feel that they have to mull over the crisis affecting their immediate environment at home instead of time devoted to homework or getting to school on time."



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    Harry Reid wrote on May 07, 2008 06:59 PM: To the 40,000 kids who will be without a home... THANK YOUR IDIOT PARENTS!!!


    Iown wrote on May 07, 2008 02:49 PM: What ever happened to the American Dream ? You know the house with the white picket fence and 2.5 kids? I feel bad for the foreclosure rate but don,t give a hoot about the illegals that act as though they are victims ! Whenever children are mentioned it,s a ploy to feel guilt of all let it be healthcare etc. Our govt will continue to use children as a pawn instead of the real issues!


    Herb wrote on May 07, 2008 01:19 PM: I agree with you Joe C, the lenders should not be bailed out either. If they made bad loans to people who could not afford to pay them back they deserve to suffer the consequences, including going out of business.

    The government bailed out Bear Stern's because they thought they were too big to fail and the whole economy would crash. The government is trying to keep the bubble going for as long as possible. Instead of bailing out consumers or corporations they need to let this thing correct itself.The more the fed tries to "help" the worse and longer the pain will be.


    dustbowl wrote on May 07, 2008 01:07 PM: Joe is sooo right here-when are we going to make the scammers face charges and loose their ill gotten profits? I guess when hell freezes over, not when pigs fly because the pigs took there money and fly away.


    Joe C wrote on May 07, 2008 11:24 AM: I agree many made bad decision buying homes they could not afford and I’m not in favor of a bailout; but the government has bailed out the banks and CEO’s that made huge profits using predatory lending just count their money.
    CEO’ from Countrywide, Merrill Lynch and Citigroup walk away with smiles instead of prison sentences.
    Bear Stearn’s gets out thanks to our guaranteed tax money and the CEO’s just count the cash.

    Lessons are needed and the corporations are just as guilty as the people losing their homes, but only one group will face any lessons.
    Just like the saving an loans or tech bubble.
    Seems the lessons for our elite CEO's is just keep counting the cash.


    TimeRanger wrote on May 07, 2008 11:11 AM: Ditto Brian, Vegas Vic and Herb.

    Mama Bear, just what IS your point? Regardless of the employment status of those being foreclosed upon, greed led them to make poor financial decisions. NO BAILOUT


    Herb wrote on May 07, 2008 10:56 AM: The motive of bringing up "the children" is to encourage a widespread bailout of failed housing gamblers. A bailout would teach children the wrong lesson. It would teach them that no matter what bad investments or decisions you make in life there is no risk. Having the childhood experience of being kicked out of their home will make these kids wiser adults, they will be better off in the long run.


    Steve T wrote on May 07, 2008 09:50 AM: What about the little old ladies who won't get their checks because their investments in mortgage paper no longer pay them? doesn't anybody care about them?


    Mama Bear wrote on May 07, 2008 06:56 AM: IF the "leaders" of this state had any vision, they would have seen, decades ago, the need for real, sustainable industries (medium to high-tech) to employee a qualified workforce.

    How much more do the citizens of Nevada or their chosen leaders need to see that risky industries (gaming) combined with little regard for real education offer no real economic security????

    But, then again, the original purpose of Nevada was not meant for children.


    Vegas Vic wrote on May 07, 2008 04:09 AM: So here we go. Advocacy groups are going to start whining for governmental bailouts of people going through foreclosure because it's "for the children."


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