Finance Minister Denies Promising Lower Housing Prices

'I have no doubt that the many actions we are taking to increase supply and to rein in demand will in the end influence the entire housing market,' says Kahlon.

Moti Bassok
Moti Bassok
Send in e-mailSend in e-mail
Finance Minister Moshe Kahlon meets with construction industry executives, January 3, 2017.
State revenues from taxes have increased on Finance Minister Moshe Kahlon guard.Credit: Ofer Vaknin
Moti Bassok
Moti Bassok

Finance Minister Moshe Kahlon denied responsibility for rising housing prices in a meeting with construction industry executives in Tel Aviv on Tuesday.

“I never promised to lower housing prices,” Kahlon told the industry's council of managers organization at a meeting in Tel Aviv. “I said we would supply apartments, and it will happen,” the finance minister told attendees.

Kahlon was responding to one of the attendees’ questions at the gathering. Speakers there said that housing prices have jumped 10% on average during the tenure of the current government.

Earlier this week, Kahlon said that 2016 was a record year for real estate, and that the treasury would continue to build apartments for young couples throughout the country, until the number of apartments exceeds the demand for them and until the housing crisis ends.

“I have no doubt that the many actions we are taking to increase supply and to rein in demand will in the end influence the entire housing market,” he said.

Click the alert icon to follow topics:

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.
From $1 for the first month

Already signed up? LOG IN

ICYMI

Charles Lindbergh addressing an America First Committee rally on October 3, 1941.

Ken Burns’ Brilliant ‘The U.S. and the Holocaust’ Has Only One Problem

The projected rise in sea level on a beach in Haifa over the next 30 years.

Facing Rapid Rise in Sea Levels, Israel Could Lose Large Parts of Its Coastline by 2050

Tal Dilian.

As Israel Reins in Its Cyberarms Industry, an Ex-intel Officer Is Building a New Empire

Queen Elizabeth II, King Charles III and a British synagogue.

How the Queen’s Death Changes British Jewry’s Most Distinctive Prayer

Newly appointed Israeli ambassador to Chile, Gil Artzyeli, poses for a group picture alongside Rabbi Yonatan Szewkis, Chilean deputy Helia Molina and Gerardo Gorodischer, during a religious ceremony in a synagogue in Vina del Mar, Chile last week.

Chile Community Leaders 'Horrified' by Treatment of Israeli Envoy

Queen Elizabeth attends a ceremony at Windsor Castle, in June 2021.

Over 120 Countries, but Never Israel: Queen Elizabeth II's Unofficial Boycott