Myrtle Beach Real Estate by Mirela

Thinking about getting a Divorce? Not in this Market!

 

divorce during hard economic times

2009 may go down as the year with the least divorce filings in recent history.

 

Nationwide, the number of divorce filings is down substantially. When the American Academy of Matrimonial Lawyers polled its 1,600 members, nearly 40 percent said that filings were down by 40 percent. "There is a lot of fear, so people are staying put," says Gary Nickelson, president of the Academy. "People look at their assets and their liquidity, and they realize they don't have any."

 

During these hard times many couples are opting to postpone getting divorced for obvious economic reasons.  In the past, the proceeds from the sale of the marital home was a solution to many post-divorce cash flow issues, including down payments for new homes, getting a new car and paying the lawyers and experts in a case. 

 

With the decline in property values, many people are facing situations with negative equity or much less equity to divide, so many just stay put and wait for the market to turn.  

 

During the Great Depression divorce rates dropped sharply, but domestic violence rates went up.  Unfortunately, the statistics for 2009 reveal similar trends.

 

It’s hard to make marriage work during the best economic times, but when job losses, home losses and financial upheaval hit, marriages are severely impacted.   Still, couples are staying together.  They can't afford the attorney fees.  Child support is impossible to pay.  Having two homes is unreasonable in a time when they can barely afford one home together.  So they decide to stay together.   As one observer put it:  “it’s like sleeping with the enemy”…

 

Mirela Monte, Your Myrtle Beach Real Estate Connection         

 

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Comment balloon 9 commentsMirela Monte • October 20 2009 10:13PM

Comments

That is a very sobering thought...

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) almost 11 years ago

"sleeping with the enemy" that's one way to put it, Mirela! This is an interesting and not surprising statistic.

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) almost 11 years ago

C: Sobering indeed!  Divorce has always been a highly unpalatable subject.  It rates right there with root canals on the stress factor...

Sharon:  What I found most sobering are the parallels between our current statistics on divorce and domestic violence and the Great Depression statistics.

Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) almost 11 years ago

Thats a horrible thought, people only staying together because they cant afford to leave.  For all the single people out there complaining about being single, it could be worse they could be one of those couples!

Posted by Joshua Schaubach, e-Pro Your Yuma, AZ - Realtor Only a Call or Click Away! (ERA Matt Fischer Realtor) almost 11 years ago

Hi Mirela... I have also heard about people getting divorced and being forced to live together (separate bedrooms) afterwards because they cannot afford to sell their home.  That sounds even worse to me than postponing the divorce.

Posted by Steve Shatsky almost 11 years ago

Joshua:  That's for darn sure!  BTW, it didn't take an economic crisis for me to realize that... 

Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) almost 11 years ago

Steve: In essence, many non-divorcing couples do just that.  It's all bad.  Not having choices is the aggravating factor.

Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) almost 11 years ago

Interesting info about the affect the economy is having on divorced couples.  

Posted by Kathy Torline, Colorado Springs Real Estate Blog 719-287-1049 (ERA Herman Group Real Estate) almost 11 years ago

I think it's very sad that people stay together because of money; and in this case, that people stay together because of the LACK of money. 

Hopefully while they are together they will be respectful of each other (if nothing else) and put some ground rules in place, at least until the economy gets better.  So sad.

 

Posted by Sylvie Conde, Broker, Toronto Real Estate (Sutton Group-Associates Realty Inc., Brokerage) almost 11 years ago

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