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Economic Analysis: Theory and Practice
 

Affordable housing: Searching for funding sources

Vol. 15, Iss. 11, NOVEMBER 2016

PDF  Article PDF Version

Received: 1 August 2016

Received in revised form: 31 August 2016

Accepted: 14 September 2016

Available online: 29 November 2016

Subject Heading: ECONOMIC ADVANCEMENT

JEL Classification: G23, G31

Pages: 20-32

Leonova L.B. Ural Federal University named after the First President of Russia Boris Yeltsin, Yekaterinburg, Russian Federation
lel.leo@mail.ru

Alpatova E.S. Ural Federal University named after the First President of Russia Boris Yeltsin, Yekaterinburg, Russian Federation
elen-kon@ya.ru

Leonov R.A. Ural Federal University named after the First President of Russia Boris Yeltsin, Yekaterinburg, Russian Federation
lel.leo@mail.ru

Subject The article considers the situation in the affordable housing market.
Objectives The purpose of the study is to provide a rationale for proposals on the formation of funding sources to address the housing needs of Russian citizens.
Methods The data of the Federal State Statistics Service, international agencies and statistical services served as the methodical basis of the study. To handle statistical reports, we applied methods of analytical grouping, calculation of coefficients, and comparative analysis.
Results To solve the problem of housing affordability only through budget projects is impossible. Other sources of financial support are needed. We offer shifting the vector of management of economic processes in the housing sector toward the priorities of the internal policy, rather than foreign policy. This will enable to refocus developers on restructuring the housing market and provide affordable housing for Russian nationals.
Conclusions and Relevance In the face of systemic crises, we suggest to 'humanize' the housing sector and use four directions of development: construct rental houses, return to the experience of housing cooperatives, ensure repayment of international debt, and debunk corruption schemes in the economy.

Keywords: affordable housing, homeowner, housing cooperative, cooperative ownership, rental housing, mortgage lending

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