If you're no longer in love with your spouse, you both are toward the end of your careers, you've regained equity in your shared house and your kids have flown the coop -- what's keeping you in the marriage? Increasingly, the answer for many 60-plus couples is: "nothing." In March, a Pew Research report stated that while divorce is becoming less common for younger couples, "so-called 'gray divorce' is on the rise: Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s." Why? And what should real estate agents know about this group of potential homesellers? A chart from the Pew Research article about "gray divorce." What's going on with boomer-aged couples? Experts in the Spring 2016 issue of Family Law Quarterly posited that the rise in divorce can be attributed to (in this order): The increase in the number of women who work and have earned their own retirement assets and income Lack of financial security and debt Empty-ne...
- Divorce rates are rising nationally for older couples, which means agents should be prepared to handle this group as they sell the property they shared and buy new, separate property.
- Agents should be sensitive to the challenges faced by former spouses who have not been active in the workforce.
Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York