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Did Russia's Housing Market Just Tank?
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Subscribe02 AUG 2024 / ECONOMY
The Russian housing market, initially stimulated by President Putin's subsidies, is showing signs of a downturn due to rising inflation, with increases in interest rates and the discontinuation of government subsidies. Analysts anticipate troubling economic implications including a 50% decrease in new mortgages, an impact on the construction industry, banks restructuring loaning strategies, and many Russians finding homeownership increasingly challenging.
Ever heard the phrase, "What goes up must come down"? It’s as true for housing markets as it is for gravity. And right now, all eyes are on Russia as its housing market, once buoyed by aggressive mortgage subsidies and geopolitical maneuvers, is nearing t...
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