The side effects of falling property values reveal some societal changes our grandparents could not have imagined. A recent story in the New York Times focused on a couple going through a divorce. Rather than fighting over who got the house, the issue was, “Who would be required to take the house!?” (Or more accurately, the houses.)
Implications: If you look at this story as a student of consumer behavior, this is interesting. If you consider it from the perspective of a divorce lawyer, you might see this story as an indication that the needs and expectations of your clientele are ever-changing; that your firm might be smart to transcend family law, and offer resources (internal or out-sourced) in bankruptcy law, real estate, and other areas.
Lots of consumers are experiencing change right now. In your attention to the obvious, don’t forget to notice the subtle or sublime. It might help if you step out of the office, and consider the issue from an entirely new point-of-view.
Mike Anderson
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