08.12.2010 - Israel: No bubble in housing market, BoI says
From Jpost.com: There is no bubble in the local real-estate market, even though housing prices are rising faster than rents, Bank of Israel Deputy Governor Zvi Eckstein said. “Housing prices in Israel and worldwide are characterized by a long-term upward trend,” he said at the Israel Geographical Association’s annual conference in Jerusalem. “This trend constitutes a financial risk when the business cycle starts to turn bearish.”.............................................Full Article: Source
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