Opening the jar(gon): What's an asset, anyway?
By Steve Varnum
Industry jargon generally flies over the head of most readers and listeners.
Those of us who work for financial organizations like the New Hampshire Community Loan Fund throw around industry lingo and jargon all the time, all the time assuming that people know what we're talking about, and much of the time being wrong.
I survived my first 55 years never having heard the terms "infill" or "stick built," not really understanding any of the many definitions of "equity," and thinking "income-eligible" referred to the fact that I'd never be able to buy a BMW.
Don't even get me started on "extending the runway" ...
Generally, we go blathering on with these terms until we're met with a look like this:
This is the universal expression for, "What the &*#! are you talking about?!"
Fortunately, there are people like American Public Media's Paddy Hirsch who see this look and think, "Hmmmmm, maybe I should explain."
So, you think you know what an "asset" is? Let's ask Professor Paddy ...
Do you have any "favorite" industry jargon? Please share, and we can all groan, I mean learn, together.
Steve Varnum is the communications guy at the New Hampshire Community Loan Fund.