Less Equity Means Less Divorce in the U.K.
In an on-going effort to combat the negative trounce traditional media puts on today’s real estate market, I thought I would pass on some positive info I found in an article today about the market overseas.
The article was about the upside of the declining U.K. real estate market. It seems married couples are staying together as a result falling home prices and the divorce rate in the U.K is dropping. Analysts from the U.K.’s 4th largest real estate firm, Savills, believe that there is a strong connection between falling home prices and the country’s 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, a Savills researcher. “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.”
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It is not all flowers and candy though. With declining value in the family home couples feel more stressed about finances increasing domestic conflict between couples. The good news is that they are sticking it out.
Lou Lynch – Director of Technology for Prudential Nutshell Realty
Providing stellar Ulster County real estate services for home buyers and sellers in Upstate New York.
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