The historical average here at home does not take into account the significantly increased level of home ownership in the past 25 years.
Or the new tax law (passed in '97?) allowing for large tax free earnings on home equity. I have to think that had a big impact on money flowing into real estate rather than traditional savings. It would be pretty difficult - and take a long time - for my wife and I to earn $500,000 tax free in the equities market or in traditional savings.