Dear Anthony,
Point well taken; however, much of the factual data used in these debates revolve around the level of financial saving. House buying is relegated to a separate category and listed separately in the data tables. It has been pointed out that more US families buy houses than Japanese and that, therefore, financial saving plus houses purchased may be a fairer way of comparing the savings quantities. It should also be added that the purchase of consumer durables to go into the house or garage is a form of household investment. In fact, back two decades when the US personal saving rate dropped by more than 50%, household purchase of durables rose by an almost exactly similar amount.
The two time series curves appear to be mirror images. If we add the purchase of consumer durables to financial saving and real estate purchases, maybe the US saving rate isn't so bad after all.
Sorry, it's still bad, but at least better. Best regards.

Jim Marsh

>Thus, why the Japanese save so much and why the Japanese are choosing to save money to purchase homes (instead of renting) are basically the same question.
>[Anthony Miyake]
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