real estate

Booming Housing Market in Israel Stokes Fears of Bubble

02/23/2011
JTA

TEL AVIV (JTA) -- Soon after Leora’s second child was born and she and her husband began looking for a larger home, Israel's new real estate reality smacked them in the face.

Though the couple had bought a two-bedroom apartment in Tel Aviv six years earlier that had appreciated to $650,000, more than triple what they paid, they still found themselves priced out of the local market. One apartment in a basement underneath a parking lot was listed at $468,000.

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