IMF: Sudden drop in housing prices could cause recession

13.02.2014                      13.Adar I.5774

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IMF: Sudden drop in housing prices could cause recession

Annual report says housing prices overvalued by 25%; there is a 20% probability of housing "bust", real estate could lose over a tenth its value.

If housing prices fall too quickly, it could trigger a recession in Israel, the International Monetary Fund wrote in its annual consultation, released Wednesday….