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Old Flat bar or Pop Art in the new house

For young couples buying an apartment in Israel in 2010 has become an impossible task. If in 2001 to buy an average apartment, 88 required wages, then if you take the prices two weeks ago, that such purchase has become a cost not less than 120 in wages. Two important institution in the economy have contributed to a rise in prices has occurred, it is – the Bank of Israel and the Ministry of Finance. Bank of Israel lowered the interest rates due to the global crisis and has made an attractive housing market for the investments of such investors, many Jews from abroad, which, for its investment portfolio bought a property here. Thus, in 2008 and 2009 the number of apartments acquired for the purpose of investment, was more than 30% of the total market of apartments in the country. In parallel with this increased competition among banks in the mortgage market, so that the sum of mortgage payments have increased. Ministry of Finance has ceased to manage the supply of apartments on the market. Finance Minister Yuval Shtaygnits general said that no decision to increase the supply of apartments on the market. But anyone, and so it is clear that a reasonable policy the Ministry of Finance could lead to an expansion of new construction. In the early 90’s was recorded in great demand for housing due to the large immigration from countries of the Soviet Union. In response to this demand – construction increased by 300% in just two years. Those who then initiated the construction, there was one Arik Sharon. Tomer Zaltser and Liad Livni Edition “Kalkalist”, 14/11/2010