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(Ivanhoe Newswire) -- The widespread belief that most compulsive buyers are women may be wrong -- it seems to be an equal-opportunity problem.
Researchers from Stanford University School of Medicine in California found nearly as many men as women have compulsive buying disorder. People with the condition frequently have irresistible and often senseless impulses to buy things. They often go on shopping binges and end up with a lot of unnecessary, unwanted items. They also often have thousands of dollars of debt and lie to loved ones about their purchases. The condition can lead to bankruptcy, divorce, embezzlement and even suicide attempts.
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Researchers stress compulsive buying disorder should not be mistaken for the occasional impulse buying, which many people do.
"Compulsive buying leads to serious psychological, financial and family problems including depression, overwhelming debt and the breakup of relationships," reports lead author Lorrin Koran, M.D., from Stanford University School of Medicine. "People don't realize the extent of damage it does to the sufferer."
Researchers report 6 percent of women and 5.5 percent of men have symptoms of compulsive buying disorder. And more than one-in-20 adults in the United States has the condition.
The report reveals compulsive buyers are younger than those without the condition and more likely to make less than $50,000 a year. Also, compulsive buyers are more likely to spend to within a few hundred dollars of their credit limit and are more than four-times as likely to make only the minimum payment on credit card balances.
Researchers say more studies are needed to look at the link between compulsive buying and younger age as well as gender differences.
This article was reported by Ivanhoe.com, who offers Medical Alerts by e-mail every day of the week. To subscribe, go to: http://www.ivanhoe.com/newsalert/.
SOURCE: American Journal of Psychiatry, 2006;163:1806-1812
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