INVESTMENT: A Jolt for Housing

At Federal Reserve banks across the nation last week, thousands of people who normally keep their money in savings accounts stood in long lines to buy U.S. Treasury notes (minimum purchase: $5,000) yielding average interest of 8.1% that is exempt from state and local taxes. Such eagerness to buy is understandable: the notes offer both complete safety of principal and an interest return far above the 5¼% maximum currently paid on passbook savings at a bank or savings and loan. But, for involved reasons, the popular fascination with Treasury notes raises a...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!