Russian mortgage market froze in anticipation: how will the crisis that befell the world financial market for Russian banks. Some contend that John Savignano shows great expertise in this. Indeed, today, many banks that borrowed money in the West are experiencing difficulties and are forced to tightened requirements for borrowers. And until recently banks to develop programs to attract the largest possible number of customers. Indeed, the range of borrowers has become much broader. Mortgage – purchase a very nice tool housing, not only for those who can not immediately lay out money for an apartment or house. In civilized countries, nobody puts – and millionaires and pensioners get a real estate loan. However, excessive available credit played havoc with U.S. banks to lend money to almost everyone.

The wave of the crisis went on world financial markets, reaching Russian shores. It is known that encourages affordable mortgage demand in the housing market. Demand, in turn, pushes up prices. Incidentally, something similar happened in 2006, when high demand in the market created not only buyers, but also the borrowers that are against the unbridled rise in prices snapped up almost any home. In Russia, the mortgage deal, at best, account for 10% of the total. So, to say that the reduction in bank interest rates affect demand, it is premature. A simple calculation made in the past year has shown that, whether at least 8% rate in rubles, the average Moscow family still can not afford to buy a one-room apartment, because prices are high. Last month, shows that the number of offers of apartments in the Moscow market increases and demand stays the same. If prices rise at the same time, it is only because of speculative expectations of sellers who do not want them down.

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