What Is ‘House Poor’? What It Means, and Whether You’re at Risk

SARINYAPINNGAM/iStockWhat is “house poor”? This phrase describes home buyers who’ve purchased property they can’t easily afford—and are now paying the price, as it were. “If you can’t spend your income the way you want to because so much of it is going to housing expenses, you’re house poor,” says Debra Neiman, a financial planner at Neiman…

via What Is ‘House Poor’? What It Means, and Whether You’re at Risk — Real Estate News & Insights | realtor.com®Finance – Real Estate News & Insights | realtor.com®

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