The West Hartford project is a solution to two problems: what to do with abandoned synagogue buildings and a housing crisis.
While a potential slowdown in economic activity is expected, the notable wage increases and shekel devaluation are set to have serious repercussions on the Israeli inflation rate.
This would result in constitutional chaos, a surge in rental market prices, and a significant halt in real estate transactions until the legal situation is clarified.
The bill is meant to reduce tax evasion and increase Israel’s tax revenue, but opponents say it will result in increased costs for renters.
A slew of economic factors have landed the Jewish state in a fairly expensive position – but how does it compare to other countries?
When Israel makes announcements about new building projects, they aren’t just headlines that draw world attention, they are a sign of Israeli growth.
On June 11, it was announced that a two-decade low was recorded in the number of real estate transactions throughout Israel.
87% of complaints were filed by Jews, and only 7% by Muslims. The proportion of haredi complainants increased by around 53%.
The Central Bureau of Statistics did observe a staggering 11% rise in prices of fresh fruit, while prices of vegetables dropped 2.9%.
The sides discussed the "urgent steps" necessary to fight the high cost of living.