The Housing Crisis: An Obstacle To Divorce-Is This A Good Thing?


Last week’s article in the NY Times about how difficult divorce has become as a result of the housing crisis has stirred up quite a bit of debate.

The Times notes that:

In a normal economy, couples typically build equity in their homes, then divide that equity in a divorce, either after selling the house or with one partner buying out the other’s share. But after the recent boom-and-bust cycle, more couples own houses that neither spouse can afford to maintain, and that they cannot sell for what they owe. For couples already under stress, the family home has become a toxic asset.

In LadyBlog Theodora Blanchfield opines that the difficulty in liquidating the marital home is a good thing. She writes...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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