I haven’t written here for some time because I get tired of repeating the same things.Our system is broken. All of the attempts to fix it have been based upon the ridiculous idea that government, any government, can solve supply and demand problems through some magical formula. They can’t. Real estate prices are too high. The government has tried myriad ideas to alleviate the problem to no avail. In the meantime all that we have are higher real estate prices and much higher rents. I wrote about this inevitable outcome a year before any social protests were contemplated, read it here Bank of Israel regulations will cause higher rents. The cost of borrowing was too low. The regulator of the banks came up with a...
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