As Jesus left and was going out of the temple, his disciples came up and called his attention to its buildings. He replied to them, "Do you see all these things? Truly I tell you, not one stone will be left here on another that will not be thrown down." While he was sitting on the Mount of Olives, the disciples approached him privately and said, "Tell us, when will these things happen? And what is the sign of your coming and of the end of the age? " ... “Learn this lesson from the fig tree: As soon as its branch becomes tender and sprouts leaves, you know that summer is near. In the same way, when you see all these things, recognize that he is near -- at the door. Truly I tell you, this generation will certainly not pass away until all these things take place. Heaven and earth will pass away, but my words will never pass away.” Matthew 24:1-3, 32-35
I have heard many Pastors and Teachers say that the fig tree “parable” is also prophetic. They explain that the fig tree is symbolic of Israel. When the nation of Israel's branches become tender and leaves sprout is therefore symbolic of Israel growing and becoming active. This is characterized as Israel becoming a nation in 1948, or alternatively when Israel took possession of Jerusalem and the temple mount area during the six-day war in 1967. When these things are observed, then you know that summer is near, summer symbolizing the Lord’s return to earth. Jesus went on to state that the generation that sees things occur would not pass away until all those things He mentioned take place. Those who see the fig tree as a symbol of Israel, and understand this parable to be prophetic additionally, understand the "sees these things" wording to mean those who see Israel becoming active, either in 1948 or 1967. They explain that scripture defines a “generation” as either 70-80 years (Ps.90:10), or even 100 years (Gen. 15:16). Therefore, Christ will come again prior to 70 - 80 years after either 1948 or 1967. Alternatively, Jesus could come again prior to 100 years after either 1948 or 1967. So, the fig tree prophecy predicts the second coming of the Lord sometime prior to the years between 2018 a.d. and 2067 a.d., depending on the date and definition of generation you choose to utilize.
Several things in the Bible are specifically symbolic of Israel. For instance Barley (Judges 7:13), the Olive Tree (Rom. 11), and the grape vine (Ps. 80:8-11) are specifically used in scripture as symbolic of Israel. However, the fig tree is not used symbolically of Israel specifically in my opinion. It is used in both the Old and New Testament repeatedly however to describe the spiritual condition of Israel. The fig tree is used in Jeremiah 8:13 to describe the immoral condition of Judah prior to being taken captive by Babylon. It is again used in Hosea 9:10 to describe Israel as a choice fig, prior to their turning away from Him and worshiping Baal, a false God. This pronouncement is made just prior to Israel being taken into captivity by Assyria. In Habakkuk 3:17, the failure of the fig tree to bud is symbolic of the ungodly spiritual condition of Judah prior to the Babylonian captivity. Additionally, throughout the Old Testament, reference is made to Jews sitting under their “own vine and their own fig tree.” This is typically used as a reference to Israel being physically in a state of peace, security, and abundance. The phrase is used multiple times to also describe Israel’s restored spiritual and physical condition during the millennial kingdom period in the future, a time of ultimate peace, security, and abundance.
In the New Testament, in Matthew 21:18-20, the fig tree again is used as an example of Israel’s spiritual condition. Jesus is on His way to Jerusalem in the morning and is hungry. He sees a fig tree with leaves and looks for a fig to eat. It is noted that the tree appears as if it should have fruit on it but it does not, even though it is not the season for fruit. He curses the fig tree for not bearing fruit at a time when it appeared it should be producing fruit. My understanding is that a fig tree will produce a few early fruit at the beginning of the season, and Jesus seeing leaves on the fig tree was hoping to find a few early fruit on the tree as well. The fig tree withers the next day and the disciples marvel at this. The fig tree again signifies the spiritual condition of Israel…they should be ready to recognize and accept their long awaited Messiah at the time He appeared to them, but instead reject Jesus.
My understanding of the fig tree “parable” is that it is a type, symbolic, and is not a prophecy specifically. It is symbolic of the timing of Jesus’ second coming to this earth, but does not provide a specific time-frame. Jesus uses the fig tree branches becoming tender and shoots of leaves appearing as symbolizing the signs of the end times that He lists in Matthew 24. When you see these things appearing (the signs He gives), you know that summer (His reappearing) is near. As to the statement about the generation that see this not passing until these things come about, I don’t take this as the starting of a countdown (70-80, or even 100 years). Rather, it simply means that the generation of people who are alive at the time that the signs appear will not pass away prior to His reappearing on the earth and all the things he mentions take place. The generation of people alive during the tribulation period will not pass away before all the signs He mentions come to pass, and His reappearing at the end of the tribulation occurs.