Household strategies in the mortgage lending market during the transformation of monetary policy and preferential programs

About the author:

Almir I. Fatikhov, Cand. Sci. (Soc.), Independent Researcher, Ufa, Russia; almir.fatikhov@gmail.com, https://orcid.org/0009-0003-7088-5756, РИНЦ Author ID: 908395

Abstract:

The article examines the strategies of Russian households in the mortgage lending market during the period of monetary policy transformation and the cancellation of several preferential programs in 2023–2024. Two main groups of strategies are identified: active mortgage lending strategies, which include obtaining a mortgage on market terms or using alternative programs for purchasing housing, and pre-purchase strategies, which involve renting housing or accumulating funds with a delayed purchase. Each of the strategies is considered in the context of its advantages and disadvantages, the socio-demographic and professional characteristics of the households that choose it, taking into account the influence of the socio-cultural and economic factors of the regions. Based on the identified features, a number of recommendations are proposed to improve the interaction between the participants in the mortgage market.

References:

Aizinova, I. M. (2017). Mortgage lending as a tool of housing policy. Scientific works: Institute of National Economic Forecasting of the Russian Academy of Sciences, 15, 489–510. [In Russian]

Alexandrova, O. A., & Borkovskaya, E. I. (2025). Rental housing and co-housing: the attitude of Muscovites to solving housing problems in the formats of the economy of shared consumption. The standard of living of the population of the Russian regions, 3, 396–407. https://doi.org/10.52180/1999-9836_2025_21_3_4_396_407 [In Russian]

Alyoshina, A. V., & Bulgakov, A. L. (2025). The current state of the mortgage lending market in Russia. Financial markets and banks, 9, 363–368. https://doi.org/10.24412/2658-3917-2025-9-363-368 [In Russian]

Baidalova, O. V., & Berezovaya, A. Yu. (2015). Housing strategies of the modern Russian family. Bulletin of the Volgograd State University. Series 7: Philosophy. Sociology and social technologies, 1(27), 42–49. [In Russian]

Bulatova, E. I., & Khalikova, R. R. (2025). The current state of housing mortgage lending. Industrial Economics, 2, 38–43. https://doi.org/10.47576/2949-1886.2025.2.2.005 [In Russian]

Golovacheva, L. N. (2025). Problems of development of mortgage housing lending in Russia in modern economic conditions. Economics and Entrepreneurship, 1(174), 277–282. https://doi.org/10.34925/EIP.2024.174.1.049 [In Russian]

Guzanova, A. K. (2012). Strategies of Russian households to improve housing conditions. Population, 2(56), 62–65. [In Russian]

Dementiev, N. P. (2025). Housing mortgages in the economy of modern Russia. ECO, 1(600), 89–103. https://doi.org/10.30680/ECO0131-7652-2025-1-89-103 [In Russian]

Ivanov, O. I., & Naimi, M. M. S. (2019). The choice between rent and mortgage: assessment of the net present value of home ownership. Scientific Research of the Faculty of Economics. Electronic journal, 11(4), 7–18. https://doi.org/10.38050/2078-3809-2019-11-4-7-18 [In Russian]

Klimov, I. A. (2009). Mortgage borrowers: Everyday practices of upward mobility. Sociological Journal, 4, 104–136. [In Russian]

Kozhevnikov, S. A., & Patrakova, S. S. (2023). The effectiveness of program-oriented and project-based approaches in solving the housing problem in Russia. ECO, 53(7), 71–94. https://doi.org/10.30680/ECO0131-7652-2023-7-71-94 [In Russian]

Kolbina, E. O. (2023). Birth rate in Russia: Who is being stimulated by demographic policy and how? The World of Russia. Sociology. Ethnologiya, 32(3), 75–96. https://doi.org/10.17323/1811-038X-2023-32-3-75-96 [In Russian]

Kulikov, A. G. (2010). Mortgage and housing issues in Russia (Point of view). Money and credit, 11, 3–12. [In Russian]

Makovkina, N. V., & Obraztsova, O. A. (2025). Mortgage lending market in Russia, problems and prospects of development. Financial Bulletin, 1(68), 78–83. [In Russian]

Mirgorodskaya, O. N. (2022). The state and prospects of development of the global coliving market in the context of the sharing economy. Bulletin of the Rostov State University of Economics (RINH), 3(79), 97–108. https://doi.org/10.54220/v.rsue.1991-0533.2022.79.3.013 [In Russian]

Parusimova, N. I., & Dobrin, D. A. (2025). The potential of the housing mortgage lending market. Intelligence. Innovation. Investments, 3, 62–74. https://doi.org/10.25198/2077-7175-2025-3-62 [In Russian]

Savenkova, A. S. (2022). Housing strategies of Moscow youth. Theory and practice of social development, 2(168), 44–49. https://doi.org/10.24158/tipor.2022.2.5 [In Russian]

Sevostyanova, S. A. (2025). Models for the development of regional mortgage lending support programs. Paradigms of management, economics and law, 1(15), 67–79.

Starikova, M. M., & Yushina, E. A. (2018). Strategies of residents of regional cities in housing development practices (on the example of the cities of Kirov, Nizhny Novgorod and Kazan). Monitoring public opinion: economic and social changes, 3(145), 176–199. [In Russian]

Yarasheva, A. V., & Makar, S. V. (2024). Family mortgage as one of the instruments of demographic policy. Population, 27(S1), 177–189. https://doi.org/10.24412/1561-7785-2024-S1-177-189 [In Russian]