- 4
- October
2013
Economic recovery leads to increase in divorce rate
Many readers in San Bernardino, and across California, are aware that additional or significant stresses, such as financial challenges, can put pressures on a marriage that could cause it to break down. As the financial crisis that swept across the U.S. in recent years affected couples, the same stresses that were causing them to fall apart where also forcing them to stay together.
According to reports, when housing prices dropped, many couples were forced to stay together because divorcing was not financially feasible. The recovery of the U.S. housing market may have relieved some of the stresses facing married couples, but the divorce rate is once again rising. Experts reportedly contribute the rise to a couple’s ability to sell their marital home, freeing up funds from what is typically a couple’s largest asset, in order to provide each spouse with the ability to move on separately.
As the economy recovers, many people are no longer finding themselves underwater on their homes or out of work. For couples considering divorce, this gives them more freedom to make their choice because finances are no longer as much of a limiting concern.
Regardless of your financial or housing situation, if you are considering divorce, it may be of benefit to consult with an experienced lawyer. There are a number of details to be settled at the end of a marriage, beyond just asset and property division. An attorney can explain your options and help guide you through the process, as well as answer any questions that you may have.
Source: Los Angeles Times, “Divorces increase as improving economy makes split-ups affordable“, Stuart Pfeifer, Sep. 18, 2013