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Not feeling depressed (euthymia) and feeling depressed (dysthymia) are emotional states that can be influenced by but exist independently of someone's circumstances. I encounter people who are homeless a lot in my work, and a good chunk of them are euthymic af, while there are a ton of people who have all their needs met and who are dysthymic af.

Emotional states have a lot more to do with genetic predisposition and learned behavior than most people would care to acknowledge, rather than situational factors