Re: [PEN-L] personal savings rate

[Doug Henwood]

Jim Devine wrote:

 > Oddly, the Fed considers purchases of consumer durables as savings in

 the flow of funds accounts.

 Doug

Not only should they reverse this, but they should also consider
purchases owner-occupied houses as purchases of consumer durables.

But houses don't wear out for a very very long time, and usually
appreciate in value. Durables usually do the opposite.

Doug