Jane R. Zavisca, "Housing the New Russia"
English | 2012 | ISBN: 0801450373, 0801477379 | PDF | pages: 261 | 1.6 mb
In Housing the New Russia, Jane R. Zavisca examines Russia's attempts to transition from a socialist vision of housing, in which the government promised a separate, state-owned apartment for every family, to a market-based and mortgage-dependent model of home ownership. In 1992, the post-Soviet Russian government signed an agreement with the United States to create the Russian housing market. The vision of an American-style market guided housing policy over the next two decades. Privatization gave socialist housing to existing occupants, creating a nation of homeowners overnight. New financial institutions, modeled on the American mortgage system, laid the foundation for a market. Next the state tried to stimulate mortgages―and reverse the declining birth rate, another major concern―by subsidizing loans for young families.