Asset Rich and Cash Poor Definition

An individual is described as "asset rich and cash poor" when they own considerable property but have a relatively small amount of liquid assets. An example would be a person who must spend most of their net income to service mortgage loan payments on a huge mansion. They are asset rich in that they own a huge mansion; but they are cash poor in that almost all of their money must be earmarked for their scheduled payments. Another commonly used phrase for this situation is saying that a person is "house poor".