PROBLEMS AND PROSPECTS OF RESIDENTIAL MORTGAGE DEVELOPMENT IN RUSSIAN ECONOMY

Abstract

Modern economic conditions of Russian and world economy development determine the necessity and high importance of residential mortgage and improving housing facilities. We should point out the interdependence of residential mortgage development and social-economic development. Residential mortgage wide spreading creates preconditions for social stability due to housing and promotes economic development through the growth of building construction and related industries. At the same time growth in the living standards increases the housing demand or improvement of living conditions that leads to the development of residential mortgage. Mortgage lending importance questions in national economy development and providing her citizens with good housing conditions are discussed in this paper. Retrospective analysis of mortgage lending development is carried out. Factors constraining mortgage lending development in modern conditions are studied. Main problems and mortgage lending development prospects in Russian economy conditions are allocated on the basis of received results. Mortgage housing lending agency activities in ensuring availability and mortgage loan positive dynamics are separately allocated. Received scientific and practical results can be used in further mortgage lending researches in Russia. These results can also be used in strategic and tactical directions of mortgage lending development in commercial bank. It will promote mortgage lending intensive growth and also its development and availability to country population.