In Russia, due to mobilization, banks are afraid to issue a mortgage: they do not want to write off debts to those who died in the war

11/15/2022

Translated from Ukrainian via Google and OFP

In the Russian Federation, banks do not want to issue mortgages to Russians in connection with the mobilization. According to the head of the financial committee of the Verkhovna Rada, Daniil Getmantsev (“Servant of the People”), the institutions fear that the borrower will be killed – and he “will have to write off the debt.”

“… mobilization started, because of which banks generally became afraid to give mortgages. Well, really, what if a borrower or a member of his family is killed and the debt has to be written off? Muscovy loves its citizens very much, but not enough to forgive debts,” – said the people’s deputy .

At the same time, he stressed that the Russian Central Bank also hit mortgages. This led to an increase in mortgage rates.

“The Central Bank, for its part, attacked mortgage rates subsidized by developers, accusing them of artificially inflating prices in this way. And mortgage rates crept up,” Getmantsev said.

At the same time, he stressed, Russia began to massively sell apartments on an urgent basis . The number of ads increased by 85%.

At the same time, in order to quickly get rid of them, the owners make discounts of 5-8%. The real purchase and sale price, the deputy noted, fell by:

  • in the secondary market – by 10-20%;
  • on the primary – by 30%

That, according to him, does not contribute to sales, the number of which has decreased markedly. In particular, in Moscow, following the results of 10 months of 2022, by 21%.

“Meanwhile, the number of proposals in the last three months alone has increased by more than 60%. And reached a historic high,” he concluded.

As OBOZREVATEL reported, the head of the Central Bank of Russia, Elvira Nabiullina, meanwhile, refused to answer the question of whether the Russian economy had already reached the bottom . Instead, she said she “didn’t like to find the bottom.”

2 comments

  1. They have lost so much confidence in the war in mafia land, that things are being effected that no one predicted.

    “…Elvira Nabiullina, meanwhile, refused to answer the question, whether the Russian economy had already reached the bottom.”

    The bottom hasn’t been reached yet and it’s anyone’s guess when the ruskie sub will hit the bottom of the economic abyss.

    Liked by 4 people

    • The best thing for Russia would be for Prigozhin to poison Vladolf, then Peskov poison Prigozhin, then Lavrov poison Peskov, then Zakharova poison Lavrov, then Medvedev poison Zakharova (after he takes her a couple times), then Navalny’s wife poisons Medvedev and announced the interim president…Navalny. 😉

      Liked by 3 people

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