The CEO of the Ministry of Construction and Housing, Yehuda Morgenshtern, called on contractors to lower apartment prices, following a decline in prices in the real estate market. In a conversation during the urban renewal summit, he revealed the ministry's intention to allocate 5-10 billion shekels to subsidize urban renewal projects in earthquake-prone cities as part of the 2027 budget. Morgenshtern noted that the housing market is relatively in good condition, but there are challenges in the execution sector. He emphasized the need to reduce prices by 10-15% to encourage buyers to return to the market, while stressing the importance of maintaining the economic viability of construction. Additionally, he addressed the labor shortage in the sector and announced plans to bring in 20,000 additional foreign workers this year. Morgenshtern warned that a lack of approval for the state budget for 2027 could harm the sector, and emphasized the need to continue marketing land and increasing the supply of apartments.