One of the differences between us and the US is that the Americans are involved in the financial markets to a far greater extent – whether as borrowers or as investors – than Israelis. A rise in share prices, not to mention in bond prices, means a fall in the cost of capital, and vice versa. This of course affects both investment and consumption.
Moreover, we lend less than the value of the collateral, with the size of  4  BIS Review 48/2009  the "haircuts" depending on the riskiness of the collateral and on the availability of market prices for the collateral.