House poor

House poor,

Definition of House poor:

  1. House poor is a term used to describe a person who spends a large proportion of his or her total income on home ownership, including mortgage payments, property taxes, maintenance, and utilities. Individuals in this situation are short of cash for discretionary items and tend to have trouble meeting other financial obligations, such as vehicle payments.

  2. House poor is sometimes also referred to as house rich, cash poor.

  3. An expression used to indicate that a major portion of a persons income goes to housing expenses, leaving little for other expenses.

How to use House poor in a sentence?

  1. Individuals in this situation are short of cash for discretionary items and tend to have trouble meeting other financial obligations, such as vehicle payments.
  2. House poor individuals can consider limiting discretionary expenses, taking on another job, dipping into savings or selling to ease their financial difficulties.
  3. A house poor person is anyone whose housing expenses account for an exorbitant percentage of their monthly budget.

Meaning of House poor & House poor Definition