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Bad Housing Markets Impacts on Divorce
December 09, 2008
Topic: Family
Recession...recession...recession. You can not watch the news or read a paper without hearing that word in every headline. With the failing economy and the out-of-control housing market, there are few areas of our lives that are not feeling the impact of this economic mess. Divorces are no exception. The financial woes of this country are steadily taking their toll on couples trying to separate from each other and are causing major problems.
For starters, divorces are taking substantially longer to complete because of the difficulty in selling the marital home. For most people the marital home is the biggest source of wealth and must be sold in order to reach a fair division of the parties' assets. This means that couples are locked into prolonged litigation while they wait for the market to come around, and are often forced to watch their one true asset decrease in value right before their eyes.
Additionally, the financial crunch is making it next to impossible for couples to live separately while the divorce works its way through. This means that couples are forced to live with each other and the unhappy cohabitation leads to more fights, more litigation, more legal fees, and in some cases, more domestic violence. The bottom line is that the housing market, and the downward-spiraling economy are decreasing the value of homes and increasing the legal expense to couples in the divorce process. A truly deadly combination for some.
Check out this article in Miami Today News for more details: MiamiTodayNewsArticle
