Hareidi religious Americans, shaken up by the worsening housing market in the United States, are buying up real estate in Tel Aviv, according to the Hebrew newspaper Haaretz. Highlighting the interest in Israel is a 200 million shekel ($55.4 million) bond offering by real estate group owner Abraham Leser. The newspaper quoted one Israeli financial executive that it has "received many requests from companies managed in the U.S. and controlled by private shareholders who have a connection with Israel."
Abraham Leser is a Hareidi religious private real estate developer in New York who has family in Israel but does not intend to move from the city, where he says he wants to observe his properties. He owns an Israeli company that employs Hareidi religious women.