During the recession, married couples were more likely to stay together due to the lack of job security and inability to sell their house. Now that the housing market and economy is improving, more couples are filing for divorce in Connecticut and across the country.
The American Academy of Matrimonial Lawyers said there has been an increase in divorce filings during the last several months due to the state of the economy. They said that the divorce rate is increasing due to the stock market and housing market improving as well as an increased sense of job security for many Americans.
How does the housing market impact the divorce rate? When the economy was suffering, many couples thinking about getting divorced did not want to because they relied on the two incomes. Now that the economy is improving, both spouses feel better about living on their own income and starting fresh. Now that the economy has improved, spouses who were unhappy in their marriages feel more comfortable filing for divorce because they have more disposable income and more career opportunities than in the past.
Studies have found that there is a direct correlation between the housing market and the divorce rate in the U.S. This can be supported by the fact that the divorce rate remained steady throughout the recession but now that the economy and housing market are improving, there has been an uptick in spouses consulting divorce attorneys and filing for divorce in the U.S.
While the housing market does not stop all couples from calling it quits, many marriages tend to stay until the housing market improves and they have a better chance to create a new, succesful financial future on their own.