"There is a general panic in the market now, which is naturally affecting homebuyers. But if I, Hanan Mor, were to advise someone seeking to buy a new apartment, I'd tell him to run and grab the opportunity of the next six months to buy an apartment, because what will happen afterwards has never happened before in Israel. When the panic recedes, prices will rise like we've never seen," said Hanan Mor, the chairman and CEO of housing construction company Hanan Mor Group - Holdings Ltd. (TASE:HNMR).
Mor said, "People don’t know how to read the economic figures and they don’t understand that Israel's on the verge of a catastrophe in terms of the supply of new apartments. The crisis has activated forces that are reducing the supply and the banks are already limiting credit to contractors. We'll meet in a year's time and we'll see that we're beginning three years of steady growth."
