Fischer: Rising real estate prices could lead to crisis

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.