Economic conditions affect divorce rate in Georgia

On behalf of Edwards & Associates posted in Divorce on Friday, May 6, 2011 Studies have shown that more marriages end in divorce during a national economic recovery than during a financial crisis. Couples thinking about leaving a marriage tend to feel too uncertain about holding onto a job, selling a home, dividing assets and the extra costs associated with getting divorced to make such a drastic move, according to the American Academy of Matrimonial Lawyers. During the peak of the Great Recession of 2008-2009, couples modified their budgets along with their wishes to breakup. In the recession's first year, the U.S. divorce rate dropped 24 percent, plunging by 57 percent in last year of the crisis. Since the financial recovery began, statistics for marriage dissolutions once again started to creep up, especially among wealthier Americans whose individual stock portfolios have recovered sooner than the overall economy. The U.S. has the highest divorce rate in the world with almost 5 divorces for every 1,000 people. Twice that many people decide to marry, although during the 19-month recession, even engaged couples delayed wedding plans. A 2009 Pew research poll found that, for adults 35 and younger, 15 percent suspended marriage for economic reasons and 14 percent delayed the idea of having more children. One area of the economy that has not yet seen a turnaround is the housing market. Many couples who had been hoping for better housing values before divorcing, have become impatient waiting for the price of homes to increase. Weighing the chance that it may take years for economic recovery to affect the value of real estate, many husbands and wives who have been thinking about calling it quits are no longer postponing the move to make permanent divorce plans.

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