A recent article in Time magazine online discusses whether there is a correlation between lean economic times and divorce rates in America. With the economy struggling worse than it has in recent memory and the country experiencing a full blown recession, most experts agree that familial discourse and marital troubles can’t be far behind.
In fact, recession and divorce rates do have a correlation. According to Gary Becker, Nobel laureate and University of Chicago Graduate School of Business economist, recessions do tend to raise divorce rates. But not as much as some might think. Census Bureau figures show that over the past 25 years, recessions have had only minor effects on divorce rates, which have been slowly waning since the early ’80s after 20 years of steadily rising.
The news isn’t all good, however. Becker, and most other experts agree that a prolonged economic recession could change the trends that we have seen in recent history. Furthermore, an economic recession the likes of which we are seeing now, which is so intimately tied to home ownership, could have substantial effects on the family unit. Effects that we cannot predict by examining previous divorce rates during economic downturns.
Financial difficulties and money troubles are one of the most cited reasons for divorce in California, and America as a whole. In these rough economic times, with so many families losing jobs and losing their homes, it is no wonder that the stress caused by the economic conditions manifest themselves in our relationships.
If you are seeking divorce also known as a dissolution of marriage in California, please contact a caring and experienced Southern California divorce attorney at Wallin & Klarich. We can help you through this difficult time and help resolve your issues in a fair and equitable manner while ensuring that your legal rights are protected. Call us today for a free consultation.
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