Housing in Israel

In September 1948, the Ministry of Labor established a National Housing Department to supervise development on a nationwide scale.

The Absorption Department of the Jewish Agency imported 6,000 cabins from Sweden for temporary accommodation.

[1] In cities and development towns all over the country, rows of concrete tenements began to be hastily erected to address the severe housing shortage.

This real estate bubble was blamed on the country-wide housing shortage.

[6] In response to the global economic recession in 2008, Israel's central bank governor, Stanley Fischer, lowered interest rates to an all-time low of 0.5%.