Life /
Is Poland a poor country? [578]
Now that's something you'd have to ask someone, isn't it.
Didn't mean to pry, (actually, I kind of did...) but I am interested in Personal Finances. I (with the fantastic support of the better half) do try to avoid unnecessary / unrealistic levels of debt. I was just interested in trying to understand the mindset of why somebody would be asset rich and cash poor. I always found it best to take a balanced approach. A nice stash of cash can go a long way when times are tough, or a financial emergency pops up. Having assets locked up like that can put you in a bind, as you pointed out when you stated:
Another person has one flat which I think is inherited, a very posh buy-to-let with a huge mortgage secured as far as I know partly on the other and an income of about 1.5k. He can hardly afford to eat properly.
What do you think drives them to maintain that kind of position?