market, and, for example, in China there is an excess of new belgium telegram data 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 than housing prices. Construction efficiency should increase, costs should decrease. And, of course, there should be moderate mortgage how much do lead generation companies cost? interest rates even without preferential programs — we had them when inflation was at the target level. Then we began to develop mortgages quite actively precisely because of the decrease in market rates.
Preferential mortgages, if they lead to an increase
Housing prices, do not increase their affordability. Even if the monthly payment has not increased, the borrower’s overall debt burden still grows. Because we see that the average terms of a mortgage loan have increased from 18 years in 2020 to 25 years. In addition, other taxpayers who do not use these benefits pay for mass preferential programs. Therefore, in my opinion, the programs should be targeted, for example, family, rural, Far Eastern mortgages. They are aimed at solving problems that ao lists cannot be solved by market methods.
