Give people about a month after their subprime mortgage payment balloons to obscene proportions and it’s not hard to guess that in some cases, that will lead to divorce and broken homes. The next big wave of resets begins in March 2008, based on the CSFB data in the chart above.
Buckle your seatbelts and unplug the popcorn machine. 2008 is going to be a rough year.
TGFFRM (Thank god for fixed-rate mortgages)???
TGFFRM (Thank god for fixed-rate mortgages)???
Updated 4/20: Being right sucks. An article confirming the suspicion.
Updated 4/20: Being right sucks. An article confirming the suspicion.
Insightful prediction from February. Unfortunately its so true. I’ve seen an increase in divorces in our firm, and like the article you cited reported, money is the #1 cause of divorce. Not just the stress around the lack of money, but how to spend it (especially when you have less and less of it).
Choices around money highlight priorities and values. Many times we see divorces because one person wants to save money and pay bills and the other wants to take vacations and spoil the kids. These differences in values can divide the couple. And with the growing mortgage issues, these values around spending and money smack married couples in the face.
Insightful prediction from February. Unfortunately its so true. I’ve seen an increase in divorces in our firm, and like the article you cited reported, money is the #1 cause of divorce. Not just the stress around the lack of money, but how to spend it (especially when you have less and less of it).
Choices around money highlight priorities and values. Many times we see divorces because one person wants to save money and pay bills and the other wants to take vacations and spoil the kids. These differences in values can divide the couple. And with the growing mortgage issues, these values around spending and money smack married couples in the face.
Recent information from law journals suggest a leveling in the divorce rate only because people are waiting longer to get married. Still, money issues are huge reasons for people to get divorce. The odds of something working out are so difficult these days that extra stresses like the mortgate crisis will not help. I do believe that you are right. That would be a HUGE test on a relationship.
Recent information from law journals suggest a leveling in the divorce rate only because people are waiting longer to get married. Still, money issues are huge reasons for people to get divorce. The odds of something working out are so difficult these days that extra stresses like the mortgate crisis will not help. I do believe that you are right. That would be a HUGE test on a relationship.