Fischer warns against growing real estate bubble
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Bank of Israel Governor Stanley Fischer said that "there is excess confidence and smugness among senior bank officials and within the financial sector." Warning against the growing real estate bubble, Fischer made the statement during a forum discussion at Caesarea.
"The fact that young people don't have money to buy a house doesn't mean that there is a bubble, but when people buy just because they think that the prices will rise – that's a bubble," he added. (Avital Lahav)
