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