Steinitz: Housing prices likely to drop by end of year

By JPOST.COM STAFF
July 24, 2011 09:23

 
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Finance Minister Yuval Steinitz on Sunday morning told Israel Radio that the government has been discussing the housing shortage for almost two ears and people have already begun to feel the effects of cost regulations in housing across the country.

Steinitz estimated that housing prices will drop by the end of the year or early next year.

The finance minister's comments come after thousands gathered in central Tel Aviv Saturday night for a rally against soaring housing prices and the high cost of living.

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