At 65 and Short on Cash, They Managed to Buy Their First Apartment for 1.2 Million Shekels

A feature in the Hebrew press highlights people who reached homeownership late in life, including a couple who succeeded in buying their first apartment at age 65 despite not having enough money on hand. The headline frames the story as part of the broader strain in Israel’s housing market, where first-time buyers are being pushed to the edge by high prices and large mortgages.

The article appears alongside other market and legal developments, underscoring the pressures in real estate and finance. It notes that monthly mortgage volume taken by the public jumped 22% in May to 9.7 billion shekels, a sign of continued borrowing demand despite the cost. It also references a series of related business and property stories, including a major lawsuit involving Israel Zeira that was mostly rejected, with a purchase group ordered to pay 3 million shekels, and a court victory for Tel Aviv residents that preserved parking spaces in a TMA 38 project.

The piece also points to wider economic anxieties affecting savers and investors. One account says a reader invested 360,000 shekels from a provident fund through Global Net and now cannot get anyone to answer. Another says the Ministry of Finance is pushing high-tech firms to cut employee pay by 20%. The article also mentions a dramatic shakeup at a promising startup that went from a valuation of 1 billion dollars to mass layoffs, and a company delisted from the stock exchange seeking to delist Payoneer for 2.7 billion dollars.

Taken together, the article paints a picture of a housing and investment landscape marked by expensive homes, rising mortgage borrowing, and growing frustration among buyers, employees, and small investors.