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Ask Dave

House Poor? What's The Meaning Of This?

Troy needs Dave's help in defining "house poor" and how you determine if it's happening to you.

QUESTION: Troy asks what it means to be house poor. Dave’s explanation is pretty simple.

ANSWER: It simply means that your house payment is so high, it breaks you and makes you poor. For example, someone who has a house payment that is 50% of their take-home pay, they cannot mathematically prosper because of their house payment. They bought their house at a level that shouldn’t be done.

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Want to Buy a House With Confidence?

Want to Buy a House With Confidence and Peace of Mind?
 

Want to Buy a House With Confidence and Peace of Mind?