4 Household saving and net wealth in New Zealand (continued)
- Figure 7: Financial and real assets (as a percentage of household disposable income)
- Source: Reserve Bank of New Zealand, Statistics New Zealand and The Treasury
- Figure 8: Composition of households’ assets in New Zealand
- Source: Reserve Bank of New Zealand
A similar trend has occurred in the United States. Bertaut and Starr-McCluer (2000), for example, report that in the United States, the share of residential property in total assets fell from about 28 percent in 1983 to about 22 percent in 1998, while the relative importance of financial assets increased substantially over this period, rising from about 45 percent to 61 percent of total assets. The composition of financial assets also shifted appreciably, with the relative importance of time and savings deposits declining while the importance of pension funds, corporate equity and mutual funds rose.
