From Realtor Magazine Online, Daily Real Estate News September 5, 2008
The sluggish housing market in the U.K. has an upside: The divorce rate is falling. In fact, national figures for the U.K. published in late August show the divorce rate last year was the lowest since 1981.
Analysts from real estate services firm Savills say there's a strong correlation between housing prices and the divorce rate.
"As house prices rise, home owners undoubtedly feel wealthier and our supposition is that they also feel able to afford to get divorced," says Lucian Cook, director of Savills Research. "We forecast that the current falls in property prices will result in fewer divorces, even allowing for the overriding downward trend in the UK's divorce rate."
However, family law expert Jill Goldman tells London's Daily Mail that financial woes often will cause arguments and put a strain on relationships; so there may be some divorces that are actually caused by dropping home values.
Sources: REALTOR® Magazine Online, Savills Research, Daily Mail
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