.*
PERIODICALS

Persona! Saving The Real Estate Effect
AS Percent Of Income
20

1 Adjusted
/ 1

0
I I I
I 1
I
I
I

1950
1960
1970
 
1980
1985

 
 
 
Source: U.S. Bureau of Economic Analysis

Official statistics show an alarming decline in personal saving since the early 1970s. But mak- ing an adjustment for rising returns to horne- owners produces a different story.
their nest eggs thus...