What does being 'house poor' mean?

Being 'house poor' refers to a financial situation where an individual or household spends a significant portion of their income on housing costs, such as mortgage payments, property taxes, utilities, and maintenance. This scenario often limits their available funds for other essential expenses, such as food, healthcare, savings, and leisure activities. As a result, while they may own a home, the financial strain can restrict their overall quality of life and financial flexibility.

In this context, the other choices do not define 'house poor' effectively. Having too much savings in real estate suggests a strong investment focus rather than a financial burden. Owning a house without a mortgage could imply financial stability, which contradicts the concept of being house poor, as there would be less strain on disposable income. Living in an affordable housing situation generally indicates a manageable housing expense, which also does not align with the financial strain associated with being house poor.