about that bubble . . .


As a follow-up to my last blog post, take a look at the following two articles in Globes:

"Housing Prices are at Record Highs and This is the Man Who Has To Eat His Hat"

http://www.globes.co.il/news/article.aspx?did=1001105350

This article published 22 February, Hebrew only, quotes a number of Mr. Yitzhaki's bold past predictions and contrasts them with actual data.

Today, Globes English published the following article in which Treasury Minister Kahlon, the man who was elected on promieses of policy reforms to lower the costs of housing, cautiously tempers expectations:

http://www.globes.co.il/en/article-kahlon-dampens-expectations-on-home-price-falls-1001107852

Perhaps I'll be the one to eat my hat in the not-too-distant future but for now I see no indications of a housing price bubble. It remains my opinion that in the absence of a general, severe economic recession housing prices may stabilize but will not fall.

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