Individuals and couples in Salt Lake City are feeling a little more financial freedom these days. The economy seems to be recovering, and with that comes more opportunity for promotions or better paying jobs. Consumers are a little more willing to loosen the purse strings after a long period of financial struggle.
Financial issues have not been the only struggle over the past few years. Many couples reported that they stayed in an unhappy marriage for fear of certain financial consequences. As the economy begins to improve, so does the housing market and this analysts say is causing a spike in the number of divorces.
According to an NBC News report, divorces are increasing by approximately 25 to 50 percent over the past several months depending on who you ask. The American Academy of Matrimonial Lawyers agrees, the president of the group acknowledging that there has “been an uptick in divorces in general going on over the last several months.”
Why? Underwater homes were a major factor in causing some couples to stay married, but with the improving housing market, couples are feeling more free to split the assets.
While the economy and status of the housing market are making couples feel at ease about filing for divorce, many said that it was these factors that caused the relationship to deteriorate in the first place. One survey showed that in the year 2011 approximately 29 couples said that the economic downturn caused serious tension and stress in the relationship.
Financial fears should never prevent an unhappy spouse from seeking divorce advice. In fact, opening up about concerns with a divorce attorney can help couples realize all of the money-saving options available to them during divorce proceedings.
Source: The Fiscal Times, “As Home Values Rise, So Does Divorce,” Blaire Briody