Issue Brief: The Hidden Costs of the Housing Crisis

  • July 09, 2008
Without a safe, stable home to call their own, young children face tremendous obstacles to the critical cognitive, behavioral and social development that occurs during their earliest years, concludes Joydeep Roy of the Economic Policy Institute in a paper for the Partnership for America's Economic Success. Unfortunately, an increasing number of children ages zero to five lack such safety and stability, thanks to sharp increases in housing costs for both owners and renters, and the foreclosure crisis and accompanying credit crunch. While skyrocketing foreclosure rates have taken center stage in the media, a quiet crisis that threatens the ability of young children to learn and thrive has been taking place for many years. The impact of poor housing on children's educational success means this crisis will have reverberations for society as a whole for decades to come.