Families on the Brink of Divorce Waiting out Downturn
Updated: Oct 17
I read an interesting article today about estranged couples waiting out the bad economy to pursue a divorce. Housing values are depressed, jobs are becoming increasingly hard to attain and now divorce has become a luxury beyond reach for some couples. Often, there is not enough money to survive in separate households, hire lawyers, fight over children and go to court. According to the article, a growing number of couples are deciding to wait out the poor economy while others take different measures, such as living together while they separate. The national rate of failed marriages has declined slightly, but not necessarily because couples desiring a divorce are happier than before. Some experts suggest it’s because they don’t have the money.
Dividing into two households can be a difficult task, especially when the same income being used to cover an extra housing payment, extra utility bills, and separate groceries. In an economy such as this, where many people’s homes are worth less than what they purchased them for several years ago it’s hard to make things work or even consider divorce if a home has no equity to draw from to pay for everyday expenses.
The article cites that working-class couples, who already have high rates of divorce, are especially vulnerable to a recession-related breakup because they are hit harder by unemployment, which is a significant predictor of divorce.
The article further cites to research that shows that during hte great depression, divorce rates fell amide hte worst of the economic crisis only to rise as the country recovered. The article further states that the recession created a backlog of divorces waiting to happen but that couples can not afford it currently.
In times of tough economic times, there are attorneys out there who are affordable and can work with your budget. I offer affordable San Jose Family Law services in my Milpitas Divorce Lawyer office. Proudly serving Santa Clara, Milpitas, Cupertino, and Mountain View.