When Real Estate Falls...Literally

The housing collapse in the United States has made life tough for homeowners and real estate professionals across the country. But for many in the disputed settlements in Israel, real estate collapse takes on an entirely literal meaning.

I read a Slate article titled, “Beautiful Two Bedroom on One Disputed Acre." The story describes an Israeli trend to move to the suburbs.

Thousands are relocating to areas outside of Tel Aviv and other large cities in search of cheaper real estate prices—in some cases more than half the cost of urban life—and sometimes a chance to live by those who share similar religious or cultural backgrounds. Not so different than US suburban flight so far.

But in Israel, suburbs can also mean settlements that are constructed on disputed land. These housing developments can have hundreds of residents, running water, electricity, paved roads, and more.

The downside of living on disputed land is that the government may intervene. Which is exactly what happened in Moaz Esther.

According to the Chicago Tribune, the government sent its massive equipment to raze a small settlement. This one comprised only two families. After they destroyed the homes, the families not only re-built, but the community grew from two families to six. “They keep wrecking and we keep rebuilding,” a resident said.

Makes our everyday use of the phrase real estate collapse seem like a gross exaggeration.

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