There Is Hardly No Private Property In Israel (Is This the Problem)

Joe Carter has an interesting link on this at Who Owns Israel?

This explains partly why it seems almost every Israeli political scandal involves some real estate scheme it seems. In fact some of the head bunting that occurs wit the Catholic Church in Israel involves these real estate deals.

It would be interesting if various people and groups looked at this. In the U.S.A property rights have been seen as paramount. What are the pros and cons? If it helped Israel's development at one time does this retard it's development on several fronts now?