while they definitely have a good point and valid concern about foreigners buying up property while not living there and causing prices to increase, making it difficult for locals to afford housing in Jerusalem, I am not quite sure what can be done about it. The local government increased taxes for "ghost" houses, and that seems to not have helped. The wealthy will continue to buy the real estate as much as they can and want to. Just this Shabbos someone in Jerusalem told me how they had lived in a specific rental apartment for 17 years, and the owner decided a few years ago to sell, but he was asking a very high price and no buyers were biting. Recently, a wealthy person bought it without even looking at it as he has bought a number of apartments around Jerusalem for his children and grandchildren and paying a little too much does not bother him. This will continue to happen, as will people buying apartments for investments and people buying apartments so they can have a home in Jerusalem for when they want to visit.
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