Borrowing Too Much

The Housing Bubble Blog does these news summaries with lengthy excerpts that recount tale after tale of poor planning and bad luck. One of them, from a local paper from west east of SF, involves quite a tale of woe: Family income cut in half after a layoff, and the value of their home declining. And the kicker: “They took out a second mortgage last year to help with their son’s wedding.”

Uh, what? I know that the Times says the cool thing to do these days is pay for cosmetic surgery and botox for all your bridesmaids, but why the hell would you borrow money to throw a party?

I’m horrified on a grand scale. First, people going deeply into debt for weddings reminds me of things I’ve read about the cycle of poverty in rural India. Second, a bridezilla asked five of her friends to get boob jobs for the occasion?

Everything: You’re doing it wrong.

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