Unless Israelis speak up, the price squeeze will worsen
One popular Israeli humorist lampooned Tel Aviv mayor Ron Huldai expressing elation over his city’s first-place finish in a global survey, even though this one is nothing to brag about.
Certainly, to the average Israeli who is not the head of a high-tech unicorn (that is, any privately held start-up valued at over $1 billion), and who struggles to meet his monthly payments, unaffordable prices are no laughing matter. And Tel Aviv does not have a monopoly on the phenomenon.
Take housing out of the equation for the moment, because multimillion-shekel prices on beachfront luxury high-rises on the Mediterranean distort the picture. But other costs of living — for cars, gasoline, and many consumer staples — are uniformly high, whether you live in Tel Aviv or Sderot.
In all fairness to Israel, there are offsets. Expenses for tuition, medical care, and insurance, which are budget-busters in many countries, are relatively affordable.
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