The divorce rate is down. The reason should be no surprise....it's expensive.
Think about retainers and monthly billing from attorneys. Then think about moving out and adding another lease payment to already mounting expenses. What about liquidating assets and a home that has lost most of its value?
Bottom line here is that middle class couples who just can't get along any more cannot afford a divorce because of the legal fees, a complicated economy and the resulting economic fallout.
Oh yes...you guessed it - the wealthy tend to file for divorce regardless of the state of the economy. And the very poor still can because they can't afford legal representation. But I guess people can represent themselves in court? That would be like watching Judge Judy on TV...
I hope couples can work things out because of this situation and it saves marriages. Maybe some counseling rather than an attorney retainer?
Please weigh in on this one if you have a moment.
And thank you for making me Your Orange County Real Estate Connection.
Michael Caruso, Broker ABR ABRM CRB GRI