http://www.scienceprogress.org/2009/06/neurobiology-mortgages/ Progressive approaches to science policy Thu, 18 Mar 2010 19:45:30 -0400 http://wordpress.org/?v=2.8.5 hourly 1 http://www.scienceprogress.org/2009/06/neurobiology-mortgages/comment-page-1/#comment-5466 CRHOME.com Sun, 14 Jun 2009 19:31:38 +0000 http://www.scienceprogress.org/?p=3410#comment-5466 Aside from the financial implications of defaulting on a mortgage, the desire for social approval seems like a logical motivation, depending on the borrower's circle of influence, including friends, neighbors, and other peer groups. Aside from the financial implications of defaulting on a mortgage, the desire for social approval seems like a logical motivation, depending on the borrower’s circle of influence, including friends, neighbors, and other peer groups.

]]> http://www.scienceprogress.org/2009/06/neurobiology-mortgages/comment-page-1/#comment-5462 Roneese Nelson Sun, 14 Jun 2009 13:54:07 +0000 http://www.scienceprogress.org/?p=3410#comment-5462 I would think that the social etiquette of our current financial situaions will remain in play as a whole in our society. However, at some point the ultimate effects of the long-term financial outcomes of staying in an upside down financial arrangment may create other types of social expectancies. From a financial standpoint, is it feasible to (1) be a part of a financial transaction that was not a true depiction of the outcomes of the purchase, or (2) the forces (social or otherwise) that drove the financial instituions, brokers, etc. to offer such arrangements on mortgages and other transactions based on social expectancies (i.e. acquiring the American Dream)? I suppose the social acceptance has it's place in this situation in maintaining our economy, but what about the buyers and their long-term financial well-being? I would think that the social etiquette of our current financial situaions will remain in play as a whole in our society. However, at some point the ultimate effects of the long-term financial outcomes of staying in an upside down financial arrangment may create other types of social expectancies. From a financial standpoint, is it feasible to (1) be a part of a financial transaction that was not a true depiction of the outcomes of the purchase, or (2) the forces (social or otherwise) that drove the financial instituions, brokers, etc. to offer such arrangements on mortgages and other transactions based on social expectancies (i.e. acquiring the American Dream)? I suppose the social acceptance has it’s place in this situation in maintaining our economy, but what about the buyers and their long-term financial well-being?

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