Home > Housing Crisis, Israel > Israel’s Housing Crisis Continues – Israeli’s Protesting for Three Days Now

Israel’s Housing Crisis Continues – Israeli’s Protesting for Three Days Now

Israeli’s are protesting their massive housing prices, and many of the protestors have been staying in tents during their protests, something I imagined would be happening because of their history and I was reminded of a Biblical prophecy and because I predicted that people would be living in tents in the masses due to houses being unaffordable:

Housing protest: Government abandoned us

Hundreds of people remained in nearly 40 tents at Tel Aviv’s Habima Square on Saturday to protest skyrocketing housing prices.

Israeli’s are protesting the massive amount of money they must pay to stay housed, and as I guessed when hearing about this news, have been staying in tents during their protest (I was reminded of a Biblical prophecy and my speculation about the need to live in cheap portable housing due to the worsening economy):

Organizers of the protest, now entering its third day, said Israel’s government has forsaken the people. Hundreds of residents visited the peaceful rally site Friday night, showing their support and cheering on the protesters, activists said. – more here

And this is not new news for Israel, in 2005 this was article was written:

Second-Home Fever

Jews overseas driving prices up in and around trendy Jerusalem neighborhoods.Michele Chabin – Israel CorrespondentReal estate agent Gilad Dayan estimates that the prices of regular Jerusalem apartments have risen at least 10 percent since the summer, and more than 20 percent for luxury apartments. He expects summer prices to be even higher.Jerusalem — So you think Upper West Side apartment prices are crazy expensive? As the intifada has quieted down, with the high-tech sector on the rebound, and with anti-Semitism in France fueling second-home purchases, real estate prices in Jerusalem — the poorest large city in Israel — are skyrocketing.Take this no-frills three-bedroom apartment located in the gated community called the Italian Colony, a three-minute walk to the heart of the trendy Germany Colony: It’s going for a whopping $535,000, a price an Israeli real estate agent called a deal. Which may not seem like much to the average Upper West Sider but given salaries in Israel, it’s a relative fortune.“The price of luxury apartments in Jerusalem has jumped more than 20 percent since the summer,” said Gilad Dayan, a young, energetic agent at Tafnit Real Estate who walked briskly through the apartment, taking in the small kitchen, non-descript living room and pointing out the basement, patio and private garden. “This one is the least expensive in the complex because the owners want to sell it quickly,” Dayan said. – more here (for some reason page no longer works, but google’s cache has it: here)

Israel’s government is socialist by the way, does that surprise you?

Related Information:

The Housing Crisis Goes Global
October 2007

Governments must address global housing crisis at root of global financial crisis
October 2008

Socialism is dead everywhere – except [in] Israel

Israel: The Road from Socialism

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