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Gold/Mining/Energy : Gold Price Monitor

GDXJ 105.33

+5.2%

Nov 26 4:00 PM EST

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To: Ahda who wrote (14016)	7/1/1998 11:16:00 AM
From: Henry Volquardsen	Read Replies (1) of 116770

Darleen, I don't disagree that lower income people have very low savings rate but since, by definition, their income is low they have a very small impact on the savings rate. If you look at national income statisitics and assume everyone below @$30k a year is saving zero you still don't get the rest above single digits. As far as boomers investing in real estate. Most people are only investing in real estate to live in. If they invest in real estate it is often in RIETs which would show up under equity investments. Also selling an old home and buying a new one will have zero impact on the percentage of assets in real estate unless new equity is added. The sale would count as a reduction of investment and the new purchase as an increase. Net they are a wash unless they add additional equity. And if you take equity out, as in selling the old house for a profit and buying a new house with less money down that the cash you took out of the old will actually reduce real estate as a percentage.

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