After long negotiations, two chassidishe entrepreneurs bought 75 acres of land in Tzefas where they plan to build 2,000 apartments for chareidi families.
The land is located in the Canaan neighborhood near the top of the town, where many chareidim have moved in recent years. Thousands of chareidim already reside in Tzefas and constitute a large proportion of its populace.
“This is good news and an important initiative which will bring thousands of chareidi families to the holy city,” said Agudas Yisroel councilman Eliezer Leizer. “We will do all that is necessary at all levels to speed up bureaucratic procedures and the construction of thousands of housing units.”
The price of chareidi housing rose by three to six percent in most chareidi population centers during the third quarter of 2016. An important exception was Tzefas, where the price of housing fell by two percent.
{Matzav.com Israel News}
So are these chevra in the “house flipping” shtick, in order to drive UP the prices of homes?
According to your own article, they didn’t BUY any apartments. It was the land that was purchased, on which they INTEND to build homes. Very admirable.
Therein lies a huge difference.