SAVING DOES NOT EQUAL INVESTMENT John Maynard Keynes confused economists and politicians all over the world when he … wrote, “Saving is necessary to equal investment” together with a few equations to confirm his idea and finally concluding … that S = I. There have been repeated discussions about how saving can equal investment, accidentally or with certainty. We …

correlation between the return on housing investment and consumption not only implies positive relationship between the portfolio … share of housing investment and excess return but also renders the housing wealth inappropriate in consumption smoothing. We …A house is generally considered as a 'roof over one's head', however, housing can be regarded as an investment or asset …