There is a housing bubble that started to develop about three years ago and its eventually got to burst like all housing bubbles do. Long term though Israel is an expensive place to buy property and the reason for that is the ghetto lifestyle Israelis live. In the centre and on the coast you have most of the secular Jews. Orthodox like Jerusalem and the towns like Bnei Barak and Tsfat. You have the arabs concentrated in the Galilee and then you have the settlers. So only a small part of the country has actually been developed, we just keep building up in the same places rather than out and so the result is property goes for a premium. Tel Aviv is the most expensive city in the Middle East and the 17th most expensive in the world, thats never going to be an affordable place to live no matter what the government does. What we need is a will on the part of both the politicians and general public to move out of the centre of the country because once there is a will to move, the public transport network will be extended and companies will relocate because its cheaper and there are people living there. Politicians from all sides have been talking about dreams to Judaisze the Negev & Galilee since Ben Gurion was PM and it never goes beyond talks and visions and so until there is a real will to change that and for government to invest some money to make it happen it won't and 64 years from now the politicians will still be talking about their big dreams but none will have done anything about it. Daphne Leef & her pals want to do someethng useful then instead of demanding the government make their fantasies of an affordable Tel Aviv into a reality instead they should be encouraging the government to develop the rest of the country.
U.S. Republican John Kasich says he is suspending his presidential campaign (Reuters)
from the article: Israel has no housing bubble, it has expensive housing