A draft report by the International Monetary Fund (IMF) opens, "Since the beginning of 2008 it appears that Israel has been acquiring safe haven status".
Israel, Safe Haven? This miniature, embattled, hated country a safe haven? We must be doing something right.
2 comments:
Nonsense. We also have a real estate bubble in Israel. True, it's not fueled by the weird debt-securities that were created in America - it's fueled by foreign Jews buying second and third homes in Jerusalem, Tel Aviv, Netanya. But it is a real estate bubble and it will burst, and we will all suffer when it does.
Real estate prices are high in Israel because people wants to invest in Israeli real estate. Dont forget this is the world's most densely settled country, excepting maybe Singapur and Hong Kong. With the difference that we are growing. Historically, real estate in Israel is the surest investment. A "meshek" in Kever Benjamin twenty years ago was sold for 20,000 dollars, the man who bought is now a multimillionaire.
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