The Tel Aviv Real Estate 15 Index lost a further 1.23% today, a decline which now leaves it 40% adrift of the high it reached in May 2007.
Much has been written about this sector in the past year but as the new year begins, the performance by real estate stocks can be summed up in one word - a bubble. This, however, does not contradict the fact that the current slump in share prices in this sector will probably create quite a few buying opportunities in the future. But that is how it works on the market.
