Definition
Being ‘house poor’ describes a situation where an individual or household spends a disproportionately large amount of their income on housing costs, leaving little for other expenses, savings, or investments.
Why it matters (in Poovi’s context)
Collins uses this term to describe the financial state many homeowners find themselves in, highlighting how the costs of homeownership can strain finances and lead to dependency on a paycheck.
Key properties or components
- High housing cost burden
- Reduced discretionary income
- Financial vulnerability
- Dependency on income
Contradictions or debates
None.