IDEAS home Printed from https://ideas.repec.org/a/rnp/ecopol/0927.html
   My bibliography  Save this article

Issues of Mortgage Support

Author

Listed:
  • Collective of authors

    (Expert Council of Governmental Commission on Sustainable Development of the Russian Economy)

Abstract

The financial crisis has a negative impact on the ability of borrowers to make monthly payments to repay previously received long-term mortgage loans for the purchase of property by virtue of one of the following reasons: 1) the dismissal of (significant reductions occurred in late 2008, unemployment is expected to peak by the middle of 2009 - up to 14% of the economically active population of the country, at the moment - about 11%, or 8 million people, according to the experts). 2) reduction of income by 30-40% (many companies have reduced salaries, switched to part-time employees sent on unpaid leave); 3) increase in monthly payments for foreign currency loans due to devaluation rubles (AHML estimates, debt and monthly payments have increased by 50% since the beginning of the year); 4) the growth of payments on ruble loans with a floating rate tied to MOSPRIME (AHML estimates, the monthly payments rose by 200% over the last 6 months).

Suggested Citation

  • Collective of authors, 2009. "Issues of Mortgage Support," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 96-101, April.
    • Handle: RePEc:rnp:ecopol:0927
    as

    Download full text from publisher

    File URL: https://repec.ranepa.ru/rnp/ecopol/0927.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    mortgage; support; crisis;
    All these keywords.

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnp:ecopol:0927. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: RANEPA maintainer (email available below). General contact details of provider: https://edirc.repec.org/data/aneeeru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.