o0(GoldTrader)0o
04-29-2008, 04:04 AM
Assets
Mints assets are correct in that they are assets to the Mint user. There is no place for pure fantasy in accounting. your home could be as well, value estimated .. Education likewise would be valued through income and income potentialA lot of people who believe as you do, about non-earning properties, are going down the tubes as we speak, because of lack of proper cash flow.
What the layman mistakenly calls their assets, are assets for sure. They are assets to your lenders, liabilities to you. Of course the bank calls them assets. The Federal Reserve said that Americans owe more on their houses than they own. (http://www.latimes.com/business/la-fi-foreclose7mar07,0,2875589.story) Your Home may provide cash flow to the banks, so to the bank it is an asset. If you or any one of thousands of mortgages, falters in their cash flow, as many will this month. The bank may foreclose on the banks asset, what you think is your stuff. They will then give it to someone who will provide sufficient cash flow to hold it until the next so called new owner.
U.S. homeowners have no equity in their homes (http://www.cbc.ca/money/story/2008/03/06/homeowner.html)
The banks are so eager to get rid of repossessed homes (http://www.latimes.com/classified/realestate/news/la-re-foreclose27apr27,0,3276028.story), that the are selling them at 40% to 60% below market value. Mint is correct in calling assets, assets and leaving dreams to fantasy. Cash flow is the asset.
Mints assets are correct in that they are assets to the Mint user. There is no place for pure fantasy in accounting. your home could be as well, value estimated .. Education likewise would be valued through income and income potentialA lot of people who believe as you do, about non-earning properties, are going down the tubes as we speak, because of lack of proper cash flow.
What the layman mistakenly calls their assets, are assets for sure. They are assets to your lenders, liabilities to you. Of course the bank calls them assets. The Federal Reserve said that Americans owe more on their houses than they own. (http://www.latimes.com/business/la-fi-foreclose7mar07,0,2875589.story) Your Home may provide cash flow to the banks, so to the bank it is an asset. If you or any one of thousands of mortgages, falters in their cash flow, as many will this month. The bank may foreclose on the banks asset, what you think is your stuff. They will then give it to someone who will provide sufficient cash flow to hold it until the next so called new owner.
U.S. homeowners have no equity in their homes (http://www.cbc.ca/money/story/2008/03/06/homeowner.html)
The banks are so eager to get rid of repossessed homes (http://www.latimes.com/classified/realestate/news/la-re-foreclose27apr27,0,3276028.story), that the are selling them at 40% to 60% below market value. Mint is correct in calling assets, assets and leaving dreams to fantasy. Cash flow is the asset.