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Israel’s finance minister ready for early elections

For Finance Minister Moshe Kahlon, data showing housing prices falling represents a personal and public accomplishment and a political victory.
Moshe Kahlon, Israel's new Finance Minister, attends a meeting at the Finance Ministry in Jerusalem May 18, 2015. Boosting competition in Israel's banking system and the economy as a whole as well as bringing down property prices will be priorities for the country's new finance minister, he said on Monday. REUTERS/Ronen Zvulun  - GF10000099277
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It took three years and a day from Moshe Kahlon's swearing in as Israel’s finance minister to his finally being able to breathe easily. The latter occurred on May 15, when the Central Bureau of Statistics (CBS) reported the first drop in housing prices in a decade.

According to the data, there has been a steady decline in housing prices over the past year, totaling 0.1%. This is hardly a revolution — the cost of apartments in Israel remains high — but it could be cause for optimism as far as many young couples are concerned.

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