The Editor, Sir:

Equity is not cash, and it is high time that those in the financial sector in Jamaica, who ought to know better, get their facts straight. Peter Bunting, in supporting the leader of opposition's claim that the National Housing Trust (NHT) is not illiquid, went on to cite instances of the huge equity possessed by the NHT all across the island.

Question is - Is this tremendous equity synonymous with cash, and could this be the misinterpretation that led to so much money being taken from the NHT to augment the inner-city housing and education projects?

Equity not cash

Equity is not cash, and a huge positive net worth is also worthless, if the owner cannot convert that equity that contributes to the positive net worth situation into cash in quick time. That is why so many 'big men' in Jamaica still starve despite all the real estate, machinery and equipment that they possess. That is why nuff people bark after Portia when she talk 'bout the poor - because the 'newly poor' feeling it harder.

That is why that advertisement from a certain bank about net worth is highly misleading. You could have a net worth in excess $20 million and still can't afford a Sunday brunch at The Jamaica Pegasus or the Terra Nova. Yet, you have to meet your property tax obligations regardless.

I am, etc.,

CATHERINE GALMA

TUCKER

catherine@knowledge

ebooks.com

Via Go-Jamaica