scholarly journals Mortgage Loan as the Main Tool for Solving the Housing Problem of Russia

2019 ◽  
Vol 2019 (1) ◽  
pp. 37-44
Author(s):  
Светлана Бабина ◽  
Svetlana Babina ◽  
Софья Назаренкова ◽  
Sofya Nazarenkovaa
Keyword(s):  
Capital Market ◽  
Socioeconomic Development ◽  
Historical Analysis ◽  
Main Tool ◽  
Developed Countries ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Federal State ◽  
Housing Problem

The housing problem is extremely urgent for Russian citizens. This problem can be solved by mortgage lending in the market economy environment. The present research features the development of mortgage housing loans and identifies the existing problems in order to find ways to strengthen the mortgage capital market. The study is based on theoretical and methodological works on the theory of mortgage lending. It involves a comparative-historical analysis in the application to the mortgage capital market, as well as an analysis of the dynamic series based on statistical data of the Federal State Statistics Service, the Bank of Russia, and the Agency for Mortgage and Housing Crediting. The paper presents a retrospective analysis which makes it possible to conclude that, despite all the difficulties of socioeconomic development, mortgage lending has become an independent institution of the modern economic system of Russia. In conditions of economy stabilization, loans are becoming more affordable, and banks offer a variety of mortgage products on various terms. However, the position of the Russian mortgage market is still seriously inferior to that of developed countries. The authors propose several approaches to the development of the mortgage housing market, which may contribute to its further development and, thus, increase the role of mortgage in solving the housing problem, as well as construction volumes, production in related industries, and the Russian economy as a whole.

Mortgage Lending and American Urbanization, 1880–1890

1988 ◽  
Vol 48 (2) ◽  
pp. 273-285 ◽  
Author(s):  
Kenneth A. Snowden
Keyword(s):  
Spatial Pattern ◽  
Urban Growth ◽  
Market Segmentation ◽  
Capital Market ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Growth Spurt ◽  
Atlantic Seaboard ◽  
Capital Market Segmentation

The connection between the spatial pattern of the urban growth spurt of the 1880s and the mortgage market is an aspect of the familiar capital market segmentation hypothesis that has received little attention. Although mortgage lending expanded most rapidly in the smaller western cities during the decade, I conclude that an underlying pattern of segmentation impeded urbanization in these areas at least until 1890. The initial advantage that segmentation conferred on borrowers in the East was reduced to some extent by binding usury ceilings along the Atlantic seaboard.

scholarly journals Mortgage Loan: Assessment of the Current Situation and Impact on the Solution of Housing Problems

2020 ◽  
pp. 78-85
Author(s):  
Nelia Volkova ◽  
Kateryna Khamula
Keyword(s):  
Real Estate ◽  
Financial Market ◽  
Effective Means ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Legal Provisions ◽  
Current State ◽  
Mortgage Credit ◽  
Practical Recommendations

The development of the mortgage market solves both the economic problems of activation and efficient use of financial resources, and social problems in attracting social groups to meet their needs through the mechanism of the financial market. This determines the pattern of development of ways to ensure and develop these processes in Ukraine, their theoretical justification, taking into account the peculiarities of the national economy and current global trends in the development of housing mortgage lending. The purpose of the work is to develop theoretical principles, guidelines and practical recommendations for improving the mortgage lending system in Ukraine. To achieve this goal, the following tasks were set: to summarize the theoretical provisions on the essence of mortgage lending; to analyze the current state of mortgage lending in Ukraine; identify conceptual approaches to enhancing the importance of mortgage credit in solving housing problems. The object of study is the process of assessing mortgage lending. The subject of the research is theoretical-methodical and practical aspects of mortgage lending in Ukraine and its impact on solving housing problems of the population. The paper summarizes the theoretical provisions on the essence of mortgage lending as an effective means of transforming capital tied to real estate; thanks to the analysis of the current state of mortgage lending in Ukraine it is proved that it is one of the most mobile segments of the financial market and today real estate lending has intensified and started to grow, but significant mortgage lending as before the crisis, unfortunately, has not yet been achieved; conceptual approaches to strengthening the importance of mortgage credit in solving housing problems, which are to improve the mortgage lending system in Ukraine. The information base of the study consisted of official materials of the National Bank of Ukraine, performance indicators of JSC "State Savings Bank of Ukraine", JSC CB "Globus", PJSC JSCB "Arcade", JSB "Ukrgasbank", materials of scientific conferences, Internet sources. The scientific novelty of this work is to substantiate the theoretical, legal provisions and provide practical recommendations for improving the mortgage lending system in Ukraine.

Analyzing the Causal Relationships Between Financial Crises and the Residential Mortgage Market

2021 ◽  
Vol 27 (8) ◽  
pp. 1773-1789
Author(s):  
Larisa I. YUZVOVICH ◽  
Mariya V. SHARAFIEVA
Keyword(s):  
Interest Rates ◽  
Financial Crises ◽  
Banking Sector ◽  
Recovery Period ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Causal Relationships ◽  
Active Growth ◽  
Residential Mortgage

Subject. We consider the economic relations, arising in the process of the analysis of the financial and economic state of the housing (mortgage) loan market during crises. Objectives. The aim is to conduct a study within the practical concept of financial crises and the residential mortgage market, to identify cause-effect relationships. Methods. We apply analytical and expert methods, based on the analysis of residential mortgage market data and the activities of the Agency for Housing Mortgage Lending. Results. The study determines the segmented role of digitalization of the banking sector in the system of State programs intended to support the residential mortgage market. We reveal causal relationships between financial crises and the residential mortgage market on the basis of a factor analysis. Conclusions. During 2008 and 2014, the government regulation of the banking crisis was only through changing the level of the key rate. It resulted in an increase in interest rates and a decrease in demand for mortgage loans, as affordable mortgage interest rates still remain the main driver of mortgage lending for citizens. This scenario gives rise to a stagnation of the residential mortgage lending market and, consequently, a very long recovery period. In contrast to the scenario of 2020, where we see an active growth in mortgage lending against the background of the financial crisis, the reason was the implemented set of measures that triggered the growth and formed a safety cushion for the banking sector in the form of secured lending.

scholarly journals Influence of Socio-Economic Factors on the Development of the Home Mortgage Lending Market: The Case of the Vologda Region

REGIONOLOGY ◽  
2021 ◽  
Vol 29 (1) ◽  
pp. 37-59
Author(s):  
Anatoly A. Volkov
Keyword(s):  
Interest Rates ◽  
Negative Impact ◽  
Banking System ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Growth Potential ◽  
Federal State ◽  
Main Function ◽  
Vologda Region ◽  
Home Mortgage

Introduction. Mortgage lending plays an important role both for the banking system and for the country’s economy as a whole. In addition to the main function of providing people with comfortable housing, mortgage system development stimulates various areas of the country's economy and creates conditions conducive for investment. The purpose of the paper is to single out the factors that have a negative impact on the home mortgage lending market on the basis of the case study of the Vologda Region. Materials and methods. The study was carried out on the basis of the statistical database of the Central Bank of the Russian Federation, data from an integrated housing development institution DOM.RF and the territorial body of the Federal State Statistics Service in the Vologda Region, as well as the Numbeo database ratings. Methods of comparison and observation, analysis and synthesis were used to study the statistics of the main indicators of the home mortgage lending market. Results. The main factors influencing the home mortgage lending market have been identified: high loan interest rates, low wages (insolvency of the client), an increase in overdue debts, high prices in the housing market, etc. The author has put forward recommendations for the development of the home mortgage lending market. Discussion and Сonclusion. The study has shown that the mortgage market in the Vologda Region has considerable growth potential and that credit institutions should work more carefully with clients, which will help to reduce overdue debts. The research materials may be useful to researchers exploring the economic issue under consideration, as well as to commercial banks, regional and local authorities that can contribute to the development of mortgage lending.

scholarly journals Analysis of the residential mortgage market in the Ural Federal District

R-Economy ◽  
2020 ◽  
Vol 6 (1) ◽  
pp. 5-13
Author(s):  
Ekaterina G. Zinovyeva ◽  
◽  
Natalya R. Balynskaya ◽  
Svetlana V. Koptyakova ◽  
Oksana O. Akhmetzianova ◽  
...  
Keyword(s):  
Poor Performance ◽  
Federal District ◽  
Mortgage Lending ◽  
Mortgage Market ◽  
Federal State ◽  
Mortgage Default ◽  
Lending Relationships ◽  
Residential Mortgage ◽  
Current State ◽  
The Russian Federation

The relevance of this study stems from the fact that it analyzes the current situation on the mortgage market in Russia: the influence of macro-economic factors causes a fall in collateral value, dramatic increase in mortgage default and poor performance of the Agency for Housing Mortgage Lending (AHML). The study is aimed at investigating the current state of residential mortgage lending on the regional level in Russia by focusing on the case of the Ural Federal District. The study considers the interests of all the participants of this market: individual borrowers, state authorities, financial and credit institutions engaged in mortgage lending. The study analyzes statistical data on the primary residential mortgage market in the Ural Federal District provided by the Central Bank of the Russian Federation, Federal State Statistics Service and the AHML. Results. Modern approaches to mortgage system evaluation are compared in order to identify and systematize the key criteria and statistical indicators characterizing the current state of this form of lending relationships. The analysis also brings to light the negative trends in mortgage lending in the Ural Federal District. As a part of our further research, we are going to develop a procedure for evaluating the performance of a mortgage system.

scholarly journals Historical analysis of the scientific base of investment activity problems in housing building

2018 ◽  
Vol 6 (1-2) ◽  
pp. 18-23
Author(s):  
A. I. Bogdanenko
Keyword(s):  
United States ◽  
Historical Analysis ◽  
Developed Countries ◽  
The United States ◽  
Mortgage Lending ◽  
State Regulation ◽  
Housing Construction ◽  
Investment Activity ◽  
Difficult Situation ◽  
Construction Companies

The article is devoted to the consideration of the scientific-source basis of the issues of investment activity in housing construction. On the basis of historical analysis, the main stages of the evolution of the problems of reducing investment attractiveness in the housing market in Ukraine are determined. The foreign practice of state regulation of investment and construction processes relevant for borrowing, or refinement, in such developed countries as Ukraine, Great Britain, Germany, Sweden and the United States of America is considered. Summarizing the experience of developing mortgage lending abroad, it should be noted that mortgage lending was one of the main factors of economic development in the United States (new Roosevelt course), in Germany (post-war reforms of Erhard), in Argentina («Kovalio plan») and in Chile (Pinochet reforms). It is proved that the development of housing construction is significantly dependent on the level of development of mortgage lending, as this is one of the main sources for obtaining additional funds for the further development of construction.It is noted that the problems existing today in the housing and construction complex of the country are largely provoked by the ineffectiveness of the system of investment activity that was established even in a planned economy. The Soviet housing finance system was based on the centralized allocation of budgetary resources for the construction of public housing and its free provision to citizens who were officially recognized, in due course, in need of better housing conditions. It is concluded that the system of state construction and housing distribution inevitably led to a spiraling growth in demand for housing and stagnation of its supply, which caused a steady deficit of housing stock.The processes of stabilization, reformation and development of investment in housing construction are always experienced by all developed countries of the world. Seeking a way of output from a difficult situation, governments are pursuing a policy that should provide state financial support to construction companies and, at the same time, facilitate the wider involvement of the private sector in providing construction services, resulting in the emergence and development of a competitive construction environment in general.

scholarly journals Inequalities in the Global Burden of Chronic Kidney Disease Due to Type 2 Diabetes Mellitus: An Analysis of Trends from 1990 to 2019

2021 ◽  
Vol 18 (9) ◽  
pp. 4723
Author(s):  
Nóra Kovács ◽  
Attila Nagy ◽  
Viktor Dombrádi ◽  
Klára Bíró
Keyword(s):  
Diabetes Mellitus ◽  
Type 2 Diabetes ◽  
Chronic Kidney Disease ◽  
Type 2 Diabetes Mellitus ◽  
Kidney Disease ◽  
Data Exchange ◽  
Disease Burden ◽  
Socioeconomic Development ◽  
Developed Countries

The prevalence of type 2 diabetes mellitus (T2DM) and the burden of complications are increasing worldwide. Chronic kidney disease (CKD) is one serious complication. Our aim was to investigate the trends and inequalities of the burden of CKD due to T2DM between 1990 and 2019. Data were obtained from the Global Health Data Exchange database. Age-standardized incidence, mortality, and DALYs rates of CKD were used to estimate the disease burden across the Human Development Index (HDI). Joinpoint regression was performed to assess changes in trend, and the Gini coefficient was used to assess health inequality. A higher incidence was observed in more developed countries (p < 0.001), while higher mortality and DALYs rates were experienced in low and middle HDI countries in 2019 (p < 0.001). The trend of incidence has increased since 1990 (AAPC: 0.9–1.5%), while slight decrease was observed in low HDI countries in mortality (APC: −0.1%) and DALYs (APC: −0.2%). The Gini coefficients of CKD incidence decreased from 0.25 in 2006 to 0.23 in 2019. The socioeconomic development was associated with disease burden. Our findings indicate that awareness of complications should be improved in countries with high incidence, and cost-effective preventive, diagnostic, and therapeutic tools are necessary to implement in less developed regions.

Human capital in the new development strategy of Russia

2021 ◽  
pp. 410-423
Author(s):  
Konstantin Konstantinovich Kolin
Keyword(s):  
Human Capital ◽  
Development Strategy ◽  
Socioeconomic Development ◽  
Innovation System ◽  
Developed Countries ◽  
Modern Concept ◽  
National Human ◽  
The World ◽  
The Developed Countries ◽  
Main Components

The article analyzes the modern concept of human capital and its role in the socioeconomic development of society. The structure of human capital in Russia and the state of its main components have been studied. The necessity of creating mechanisms for significantly more effective use of the intellectual potential of scientific and educational institutions of the country, as well as of the formation of a national innovation system, is shown. It is demonstrated that according to the World Bank estimates, today the national human capital in developing countries accounts for more than half of their national wealth, and in the developed countries of the world – for about 70-80%. Thus, human capital is now considered as the most important economic category, the importance of which will significantly increase in the 21st century. The author believes that it is advisable to use the positive experience of the functioning of such a system in China.

FACTORS OF THE FESTIVAL TOURISM DEVELOPMENT IN THE SECOND HALF OF 20TH CENTURY

2017 ◽  
Author(s):  
Anna Hrytsyshyn ◽  
Keyword(s):  
20Th Century ◽  
Information Technologies ◽  
Socioeconomic Development ◽  
Ecological Factors ◽  
Developed Countries ◽  
Social Needs ◽  
Transport Infrastructure ◽  
Political Factors ◽  
High Level ◽  
Communist Countries

The article deals with the development of festival tourism in the second half of the 20th century. Festival tourism is referred to the special types of tourism and should satisfy specific needs of people during the trip. The motivational basis of the festival tourism is the desire of people to visit new places, regions and events in the world, including festivals. The article analyzes the main factors of the development of festival tourism in the second half of the 20th century after the end of the Second World War. Six main groups of factors are determined, in particular: civilization, sociological and psychological factors; economic factors; political factors; technological factors; ecological factors and tourism as a factor in festival development. It was established that the progress of civilization and higher incomes made it possible to satisfy the basic social needs in the highly developed countries, as well as to concentrate on high-level needs, including those connected with culture and entertainment, thus, also with festivals. The collapse of the USSR and the democratization of the post-communist countries in Europe caused the appearance of a new cultural and entertainment activity. Moreover, the authorities began to take more and more responsibility for the socioeconomic development of cities and regions, including the cultural aspect, which in turn resulted in promotion of local festivals. The development of transport infrastructure and modern information technologies has also positively contributed to the development of festival tourism. The ecological approach to life and to civilization in general is considered to be an important factor in the development of festival tourism in recent years.

scholarly journals NON-PERFORMING PROPERTY LOANS AND ITS ORIGINATION IN THE REAL ESTATE FINANCE SYSTEM: CASE STUDY OF MALAYSIA

2021 ◽  
Vol 11 (1) ◽  
pp. 35-59
Author(s):  
Tham Kuen Wei ◽  
Rosli Said
Keyword(s):  
Real Estate ◽  
Financial Institutions ◽  
Developed Countries ◽  
Mortgage Market ◽  
Real Estate Finance ◽  
Islamic Banks ◽  
The Real ◽  
Finance System ◽  
The Real Estate ◽  
Secondary Mortgage Market

A healthy real estate finance system is crucial for any economy to grow and thrive. However, in recent years, the sustainability and soundness of the Malaysian Real Estate Finance System had been in question as the number of non-performing property loans had been on the rise. This paper looks into how property NPLs originate within the real estate finance system in Malaysia and its current performance in Malaysia. A descriptive research design was conducted utilizing in-depth case studies of Malaysia to examine Malaysia’s real estate finance system consisting of loan originators in the primary market and the special purpose vehicle involved at the secondary mortgage market where it was found that the Malaysian Real Estate Finance System is efficiently developed and on par with other developed countries with a robust primary mortgage market, effective secondary mortgage market and a vibrant capital market. Further analysis found that there are a total of 57 financial institutions that are property loan originators in Malaysia that consists of 26 Commercial Banks, 16 Islamic Banks, 2 International Islamic Banks, 11 Investment Banks, and 2 Special Financial Institutions. In terms of NPLs in Malaysia, property loans are the largest component of total NPLs in the country, and subsequent analysis found that the number of property NPLs in the country had been rising since 2015, after a long decade decline. This study warrants further research into the causes of property NPLs in the country so that the causes of property NPLs can be monitored as part of the country's strategic monetary policy to control and reduce the number of property NPLs in the country. Ultimately, this also helps to contribute towards a sound and robust real estate finance system in Malaysia.

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