2.10A Economic and social losses from recession

• economic losses:

  • Loss of property in the form of homes, businesses and farmland
  • losses tend to be very localised and costs depend on the land's use and location. 
  • Loss of a major asset, and the costs of buying a new home
• social losses:

  • Relocation - Cost (can be quantified) and Break up of community, loss of friends and activities like a football team or classes
  • Loss of livelihoods - Source of income and Financial problems and job searching leads to stress
• Losses in amenity value and economic losses to businesses if areas become unattractive and depopulated