Isn't this supposed to be a blog about mortgages? How come I keep on writing about energy?
One of my subscribers told me that he found the blog of some impostor pretending to understand something about Israeli finance, and the only thing he ever wrote about was mortgage rates.
If you just happened by my blog and aren't a subscriber, you probably aren't familiar with my basic premise: rates are irrelevant. Banks make a big deal over them to blind borrowers from the really important facets of mortgages. These other factors are buried deep within the 6 pt. font megilah that everyone signs 3 times when they take out a loan. These things have everything to do with the national energy market.
The news keeps on pouring in. I won't add links, you can easily find articles about these in the Hebrew business press:
1. Oil reserves have been found near the dead sea. This is in addition to the reserves that I have recently mentioned near Rosh Haayin and off the coast of
2. The Israel Electric Company is mulling the construction of a nuclear power plant, instead of the planned coal plant.
3. They are also want to lower the cost of electricity immediately by 10-12% because of the new lower costs of producing electricity thanks to our natural gas.
4. The
You may be driving an electric car with electricity made in a cost-effective nuclear plant and Blue & White natural gas being recharged at Better Place's charging stations.
Take all of these things together and it means more money in pocket of Israeli consumers and many more jobs in
For many people, this is the ideal time to put money that is sitting around waiting for action into play. While it is probably too late to make nice profits off of the energy stocks, this is a great time to invest in the second-stage effects of more money and more jobs: housing.
Every case is different, and you should always consult your qualified Israeli Mortgage Advisor.
