I wouldn’t be surprised if a lot of people actually follow that three months salary BS. Unfortunately, women in our culture our brainwashed at a young age to expect espensive material items, particularly the diamond engagement ring and a big wedding. That said, I highly doubt that very many rings are upwards of 50K, there are very few people who could actually afford that. Of course nowadays with HELOCs??

Brings up another question to ponder, how much has the jewelry industry benefitted by the housing boom? You would think it had to have a huge effect, especially with people being able to purchase more “luxury” items. I am sure the housing crash will have significant impact on the Debeers bottom line. I don’t think they are public so there is probably no way to know exactly.