Home  Journals  Finance and Credit  30(366) – 2009 August

American Mortgage Crisis: Preconditions, the reasons, experience for Russia

Available online: 17 September 2009

Subject Heading: Financial crisis

JEL Classification: 

Undoubtedly, the mortgage crisis of the USA has affected on the Russian mortgage market of crediting. The collapse of a world financial system was the reason of the liquidity and the absence of "long money" which were engaged in the Russian creditors abroad. In this case the world experience is useful. The mortgage crisis of the USA in 2006-2007 has stimulated the Russian banks, which have changed the mortgage standards in the struggle for the market. As the result, the Russian mortgage market of crediting has the same problems. This article contains the analysis of the reasons and consequences of the American crisis which can be useful for Russia.

Keywords: mortgage, crisis, recession, default

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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