One sign that the US economy is recovering is the divorce rate.
The Financial Times reports that the US divorce rate, which fell during the recession, has increased. During the recession, couples who were out of work stayed together to save money. The percentage of the population 15 years and older who counted themselves divorced dropped to 9.7 in 2009, from 9.9 three years earlier.
But now it's picking up. But in a sign that this recovery is fragile, the fights have changed. "People no longer argue about who's keeping the house, but about who's stuck with it," one divorce lawyer said.
And with the appalling state of the US housing market, those underwater homes, that are worth less than the balance on their mortgage, are creating all sorts of legal problems. Should these homes be treated as an asset or a liability? That's a new question for American divorce lawyers to sort out.
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