The overspending couple looked like they were just asking for bankruptcy. That generation, boomers, is going to have to learn what their parents or grandparents learned from the Great Depression. Their house will be sold out from under them, the guy might lose his job in an economic downturn, and they’ll have to go live with either his parents or his wife’s parents before they get back up on their feet.
I can understand the wife not working as the three children are still young, but once the oldest turns 12, they can be legally left on their own in a house and the wife can go get a job to help dig them out of the hole. When I was growing up, I was often left on my own in the house when I was 5.
The fellow was a software engineer and the girls will probably be going to college. How will they afford that?
They’d have to rent out the house and go live in some small apartment to pay for it all. I wondered what sort of a mortgage they have. People like this should not be in a 4000 square foot house.
