Too many people and institutions want to make a risk free investment, but those risk free investments do not actually exist in the economy. Banks get pressured to loan to Greece or subprime home owners or subprime car loans or African dictators or whatever the bubble of the day is.
People will tell you they have "no alternative" (we're a pension fund, think of the widows and orphans, etc...) but the money you put in the bank will not be there in 20 years if the problem persists. It might be there formally, but between inflation, deflation, defaults, immisseration of some people at the expense of others, it will have degraded spending power or be offset by damage done to the economy at large.
Spend the money now on consumption or spend the money on a productive investment. Building a house may be a good idea, but buying an existing house or buying land to hold it is being part of the problem not part of the solution.
(somewhat sarcastic, but it is possible to make yourself miserable saving for a future that never arrives, so in practice some balance should be applied)
Any extra you spend withing a year should be put into money market, or government bonds. Choose the maturity correctly.