The housing market, and, for example, in China uae telegram data there is an excess of new buildings, and in India there is a deficit. How are things currently in Russia with housing affordability, is it possible to improve it without mass mortgage benefits?
— What is happening and has happened in different countries with the housing market is a very important lesson for us. If there is a boom in the housing market, then it is very likely to lead to a crisis. It is very important for us to avoid this, so we advocate for a balanced development of mortgage lending.
You were right about the availability
of housing, and not so much mortgages. Because even if interest rates are low, but a person has to take out a larger loan — since prices have increased as a result of mass preferential programs — this does not mean that housing is more affordable. In my opinion, housing affordability is determined by several factors.
First of all, people’s incomes should grow faster
Construction efficiency should increase, costs appealing to strong emotions should decrease. And, of course, there should be moderate mortgage interest rates even without preferential programs — we had them when inflation was at the target level. Then we began to agb directory develop mortgages quite actively precisely because of the decrease in market rates.
