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Mortgage holders may become debtors without apartments en masse — expert
According to him, one cannot rule out a scenario in which Russian apartments could become cheaper due to a decrease in demand due to overheating of the domestic residential real estate market, especially after the cancellation of the preferential mortgage program.
As the expert explains, such a situation may lead to the fact that mortgage holders, who for one reason or another have lost the opportunity to continue fulfilling their financial obligations to the bank, will find themselves in debt to the bank, even if they do not have housing. given.
That is, as soon as you stop paying the mortgage, the bank will take the apartment, but the borrower may still remain in debt, since it is impossible to sell it at the original price. There is a difference between the old price and the new price.
As the expert notes, real estate prices in Russia have been falling for several months, but it is not yet customary to talk about this openly, so it is very likely that a similar situation will arise in the future.
At the same time, the economist advised not to rely on the prices of apartments indicated in the ads, since they can be significantly inflated, even though the real deal takes place at a price 10% lower than the indicated one. I use Prime.
Therefore, the prospect of being left without real estate and with debts may soon become a reality for many Russians, the expert warned. According to Krichevsky, apartment prices in Russia will continue to fall as long as mortgages remain low.