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Divorce rates increase as economic conditions rebound

Over the past few years, economic conditions in Florida, as well as the rest of the country, have been slowly stabilizing. Housing markets are rebounding, and the unemployment rate is dropping. This is all good news for the majority of Americans. It is especially good news for some who put off filing for divorce because of difficult economic circumstances.

Research has shown that the divorce rate is directly tied to the economy. When the housing market in sluggish, fewer homes are selling. In addition, housing prices often are lower than what is currently owed on the home. For a couple who would like to sell their home, split the proceeds and then part ways, this is not a good scenario. Many of the couples who needed to do this in order to start their new lives felt the need to wait until the economy improved.

Additionally, with a pending divorce, many stay-at-home moms suddenly find themselves in need of employment. In times of high unemployment rates, the job prospects are not good for someone who has been out of the work force for an extended period of time. Again, as long as unemployment rates remained high, many individuals felt the need to remain in unhappy marriages until the economic outlook improved.

Over the past few years, economic conditions in Florida and across the country have been improving. With these improving economic conditions, the divorce rate has also been increasing. Housing prices are up, housing sales are up and unemployment numbers are down. Many couples who remained married because of their financial circumstances are now finding that these circumstances are changing. As a result, they are now able to file for divorce and proceed with the life they have only been dreaming of.

Source: theatlantic.com, Why more divorces are a good sign for the economy, Jordan Weissmann, Feb. 18, 2014