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With Faltering Home Prices, Divorce Doesn't Pay
By
Jen Chung
Published Dec 30, 2008
Modified Dec 30, 2008
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By
Jen Chung
Published Dec 30, 2008
Modified Dec 30, 2008
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The NY Times puts current economics of divorce on the front page, with an article about how, upon splitting, the former spouses are walking away with a lot less, thanks to hoping their homes would be sold at height-of-the-market prices. "Lisa Decker, a certified divorce financial analyst in Atlanta, said she was seeing couples who were determined to stay together even after divorce because they could not sell their home, a phenomenon rarely seen before outside Manhattan. 'We’re finding the husband on one floor, the wife on the other. Now one is coming home with a new boyfriend or girlfriend, and it’s creating a layer to relationships that we haven’t seen before. Unfortunately, we’re seeing ‘The War of the Roses’ for real, not just in a Hollywood movie.” Hey, we saw that for real with Simon Taub and Chana Taub—and they live in Brooklyn. Simon Taub put a wall right down two floors of their three-story Borough Park home.
Tagged
divorce
economy
real estate
recession
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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