The Church's financial situation
 

The LDS church's net worth is very high because they own so much property throughout the world.

Just think how much this temple must be worth for the land alone

http://www.ldschurchtemples.com/hongkong/

If there ever was a cash crunch for the church they could always sell off some of their property

Church already owned the land before its construction. It was a Stake Ctr.

Sell of a temple or two?
 

Sell off a temple or two? I don't think that will happen...

Catholic church is very wealthy with their land and property holdings alone.

Thing about real property like that is its like your primary home -- you have to live _somewhere_. If a church sells its operational buildings it has to buy or lease something else, unless there is consolidation of operations of some kind.

that's not my point there are thousands of ward houses and stake centers on land they could sell off...

the church also owns large farms, recreational areas (My stake growing up had its onw stake property for campouts and girls etc...) they could sell that stuff off if needed

The church does sell farms that are not profitable. I'm not sure about recreational areas. I think the Sacramento temple is built on property that started as a recreational area.

I doubt the church has a lot of liquid assets, at least relative to their total asset base.

What are you trying to say? Sure, $1 billion cash is only 10% relative to a $10 billion asset base, but $1 billion is a lot of liquid assets. I don't know what you mean by "a lot" though. I have no idea what the LDS church has in assets, but I'm trying to figure out the point of your post.