MidnightCall Magazine
News From Israel MagazineHousing Prices Turn Many Into Millionaires
A real estate boom in the world’s fourth-largest oil producer has been powered by President Mahmoud Ahmadinejad’s economic policies since he was elected in 2005, economic analysts say.Real estate prices surged by more than 100 percent in 2007, after rising by about 65 percent in 2006 and more than 50 percent in 2005. Some economists see huge scope for the market to keep rising as, with interest rates below inflation, Iranians seek a store of value in property.“The high prices might be a bubble,” said economist Reza Abdizadeh. “It might be fake and not logical. But it is a fact. Historically, housing prices have never dropped in Iran. The government might be able to stop prices from rising but will not succeed in lowering them.”Stoking the fire, some real estate brokers and analysts forecast a “super jump” in prices in the coming months amid mounting international pressure on Iran to suspend its nuclear work.
The United Nations has imposed three sets of sanctions on Iran over its disputed nuclear program. In addition, Washington has blacklisted three of Iran’s main state banks and, under U.S. pressure, European banks have also pulled out.An engineer involved in mass construction of houses in southern Tehran also saw prices rising even more in 2008 as construction booms in much of the country, including in towns near Tehran, where many poorer workers live.“People have money and they do not trust Iran’s banking system because of political and economic instability,” said Mansour Khalilian. “Also because the dollar and gold are losing value, people prefer to invest in real estate.”-news.yahoo.com, 28 May 2008
This report highlights another side of the country of Iran, namely prosperity. If energy (oil) costs continue to rise or remain stable, Iran’s economic and financial future seems assured.
From prophetic perspectives, it is significant that Persia (Iran) and Babylon (Iraq) are the headline-grabbers in the media; they have not disappeared. We know that Greece is a full-fledged member of the European Union and Rome is doubtless the one with global dominion. In view of these facts, we should read Daniel 2:44: “And in the days of these kings shall the God of heaven set up a kingdom, which shall never be destroyed: and the kingdom shall not be left to other people, but it shall break in pieces and consume all these kingdoms, and it shall stand for ever.” This puts all four Gentile super powers into one package with the words, “in the days of these kings.” Whatever the world does is not decisive, but what God is doing, has done and will do is final and absolutely reliable.
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