Fischer: Rising real estate prices could lead to crisis

By JPOST.COM STAFF
May 3, 2011 12:44




Bank of Israel Governor Stanley Fischer on Tuesday warned that if real estate prices continue to rise, Israel could face an economic crisis as a result.

"Most of the financial crises in the world began in the real estate market," Fischer told a meeting of the Knesset Finance Committee. "The United States, Ireland and Spain - in all these cases, generally, the crisis started in this domain. If we go back in history, we come to the same conclusion," Fischer said.


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