Fischer: Sharp drop in apartment prices will hurt market
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At a Knesset Finance Committee meeting, Bank of Israel Governor Stanley Fischer said that a sharp fall in apartment prices would hurt the Israeli market.
"Speedy marketing of land for construction is needed, but prices must go down gradually and not in a sharp fall that could lead to difficulties in the construction sector," he explained. Fischer added that "Steps that look good for the short term, but would hurt the Israeli public in the long term must not be carried out." (Zvi Lavi)
