Wednesday, September 3, 2008
Not sure I understand the logic behind this
Homeowners may despair as turmoil in the property market slashes value off their houses, but new research shows they could have the weak economic climate to thank for helping them hang on to their spouse. Data from the Office of National Statistics suggests that an unforseen consequence of falling house prices is a lower rate of divorce among married homeowners over the past 10 years. Researchers from property experts Savills analysed property market fluctuations and divorce rates, finding a "strong correlation" between high house prices and high divorce rates. "When house prices rise home owners undoubtedly feel wealthier and they also feel able to divorce. Now struggling couples may choose not to split up a household because they will have less equity in their property to share."