The newspapers are full of the news: housing prices continue to rise, mortgage lending is at an all time high in Israel, affordable housing is more of a pipe-dream today than it was a year ago. (Housing prices have actually increased less than the consumer price index for the last year, which means that while the nominal price of housing has increased, its real price has decreased very slightly). A few months ago the screams were all about the price of rentals. This is the natural corollary to the increase in the price of housing. People can’t afford to buy, so they are forced to rent, bidding against other renters for the same apartments and pushing the prices up. In Rishon Letzion a 4.5 room house that...
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