MK Moshe Feiglin: Dissolve Israel Lands Authority Monopoly and Resolve Housing Crisis

“ The high cost of housing in Israel is strictly a function of the high cost of  the land for construction,” said MK Moshe Feiglin on Monday. “93% of Israel’s land reserves are monopolized by the Israel Lands Authority, dramatically increasing the price of the land. The State, through the Lands Authority, could lower the price of the land tomorrow. That, however, would be a courageous decision and would require leadership with clear goals. Dissolving the monopoly of the Israel Lands Authority would relieve the unreasonable financial burden on Israel’s citizens – particularly on the young people who have despaired of owning an apartment for their families. The news of the reduction of consumer buying power should lead the government to immediately reduce the price of land, and end the pointless and unhelpful debate on 0% Value Added Tax for housing,” Feiglin added.