According to HaAretz of today, the Shekel (left) has strengthened some 25% regarding the rest of the currencies and now is stronger than the dollar and the euro and the holy Swiss Frank. What people is doing with this new acquisitive power? They take vacations in Europe and exotic destinations. They buy chachkes by internet and the post. And they invest in real estate.
I am in TASE Tel Aviv Stock Exchange and follow with interest real estate prices. The high prices are frightening: How can it be that an apt. in Tel Aviv is more expensive than in San Francisco? It is unreal, unnatural, irregular, can't be. I still cannot cast away my mentality of the sixties, when Israel was perceived (and was in fact) a struggling embattled mini-country, begging donations. Now we are a rich country whose currency is appreciated even by foreign banks.
I think I may take a mortgage at 2% interest and buy an apt. in Rosh HaAyin. I am antediluvian and statistically, I have been dead for years, which is not the best age to undertake long term investments, but I have daughters and now two or more new grandchildren are on their way here. We are just starting.
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