| From Haaretz.com: After years of riding high on the hog, Israel's real estate developers who targeted eastern Europe are in hysterics. "It's a catastrophe," one moaned this week: banks aren't lending a sou to developers or to homebuyers.
Sales have ground to a halt. It's going to be a cold winter, as stock exchanges the world over post their steepest monthly retreats in history, including the benchmark index on Wall Street, the S&P-500 index. Two months ago Nuri Katz, president of the Century 21 group in Russia, was bullish and confident that "thousands of Russians" would be buying apartments in Israel..... Full Article: Source
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