Real Estate Recession Is Slowing Divorce Rate


Studies Show That Real Estate Recession Is Slowing Divorce Rate

When economic times are tough, millions of people tend to suffer the consequences.  One of the foundational results, or causes depending on whose opinion is sought, of the current recession is the plummeting and suffering real estate market.  When people own a home that is upside-down in value, it can place an extreme strain on the lives of those who struggle to stay current on a mortgage that is worth more than the home.  This strain, according to more than one study, is leading to a downturn in the divorce rate.

According to these studies, including one published by the American Economic Review, a 10 percent decrease in overall home prices leads to more than a 20 percent reduction in the number of divorces across the United States.  In addition, unemployment rose between the years of 2007 and 2010 by a factor of six percent, home values declined by almost 30 percent when considering all markets and the divorce rate fell by almost five percent.

Clearly, people who are already seemingly behind on their home investments and who are struggling on a month-to-month basis are always going to hesitate to become involved in a divorce.  This process can involve high legal fees, the forcing of the sale of a home that is depressed in value and the additional costs of maintaining two separate homes for the spouses and any children of the marriage.

San Diego Divorce Lawyers

When people are struggling financially, it forces them to forego things in life that they want.  Unfortunately, this phenomenon could include remaining in a marriage where everyone would be better served by moving on.  Fortunately, there are options available for a solution, and these options could include negotiated divorce settlements, divorce mediation and other types of approaches designed to provide a cost-effective and efficient dissolution of a marriage.

If you find yourself waiting to move forward this this process because of money concerns, you need to seek the advice of San Diego divorce lawyers who have helped many people in financial difficulties complete a divorce.  Contact the Men’s Legal Center today to schedule an initial consultation.

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