Grashchenkov: Affordable housing will become a key issue in the pre-election year
Photo: Tula Press. October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes, which has led to a significant drop in the volume of mortgage lending by 30–60%. Prospects for the crisis's development are linked to the possible continuation of tighter lending conditions and a high Central Bank key rate, which limits demand and provokes stagnation in the construction sector. This crisis affects the political agenda for the State Duma elections, drawing attention to social policy and the need for measures to support citizens in housing, which could become a key issue in parties' election programs.
"A new socio-economic problem: pensioners with mortgages are appearing in Russia. It has already been calculated that every second borrower risks repaying their housing debt no earlier than at age 65. It is logical that in the foreseeable future any force majeure cannot be ruled out, including the transfer of unpaid mortgages as inheritance to future generations. Moreover, a mortgage automatically becomes an even more effective way to postpone retirement than raising the retirement age itself. Because it is no secret that today finally retiring means a sharp collapse in living standards. Financial authorities need to start preparing today for a new type of mortgage crisis. Indeed, the time is not far off when the country will be flooded with pensioner-mortgagors. Whether they will be able to conscientiously fulfill obligations taken on many years ago is a big question. It is noteworthy that the number of mortgage borrowers has increased over the past year," notes political scientist Ilya Grashchenkov.
According to the expert, the level of overdue indebtedness of Russians on targeted loans in the second quarter of 2025 rose almost twofold compared to the same period in 2024, data from the United Credit Bureau (UCB) showed. In particular, mortgage delinquencies reached 95 billion rubles — the indicator for the specified period jumped by 97%. The deterioration in mortgage servicing quality was also confirmed by the Central Bank. They reported that the share of loans overdue by more than 90 days for mortgages has already reached 1.1%.
"The state has faced a new challenge: it can be predicted that in the long run the mortgage bubble will inevitably burst. How large the socio-economic and political consequences of such a crisis will be can only be guessed. It is obvious that the authorities will no longer be able to postpone the mortgage problem: the sector already needs active, and possibly in places harsh, regulation. Otherwise, the day will come when the side effects of current financial policy will prove fatal for the state. The current level of delinquencies is not the highest. Experts expect that in autumn 2025 and early 2026 the growth of overdue debt will continue. How fast it will be depends on whether inflation and the key rate continue to fall, as well as on the growth of citizens' incomes. One must not forget that the regulator has introduced serious lending restrictions, and mortgages are no longer issued to risky borrowers," he concluded.
Earlier IA SM-NEWS reported that the fight against corruption has reached the level of financial-industrial groups in the regions.
More news about the event:
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 11:56 02.10.2025 Kazan.Sm.News - Kazan
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 11:56 02.10.2025 Kazan.Sm.News - Kazan
News from neighboring regions on the topic:
VTB: mortgage issuances in September in Russia rose by 11%
The number of housing loans is growing month to month
According to preliminary estimates by VTB, in September Russian banks issued about 405 billion rubles in mortgage loans for the purchase of primary and secondary housing. 18:23 02.10.2025 IrkutskMedia.Ru - Irkutsk
VTB: mortgage issuances in September in Russia rose by 11%
According to preliminary estimates by VTB, in September Russian banks issued about 405 billion rubles in mortgage loans for the purchase of primary and secondary housing. 12:06 02.10.2025 NewsNN.Ru - Nizhny Novgorod
VTB: mortgage issuances in September in Russia rose by 11%
Photo: press service of VTB
According to preliminary estimates by VTB, in September Russian banks issued about 405 billion rubles in mortgage loans for the purchase of primary and secondary housing. 11:57 02.10.2025 ProGorod.Ru - Kirov
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 11:45 02.10.2025 Kaluga.Sm.News - Kaluga
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 11:45 02.10.2025 Kaluga.Sm.News - Kaluga
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 15:40 02.10.2025 Kemerovo.Sm.News - Kemerovo
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 15:40 02.10.2025 Kemerovo.Sm.News - Kemerovo
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 13:22 02.10.2025 Ekb.Sm.News - Yekaterinburg
Grashchenkov: The issue of affordable housing will become key in the election year
Photo: Tula Press
October 2 – IA SM.News. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens' real incomes. 13:22 02.10.2025 Ekb.Sm.News - Yekaterinburg
This is 11% more compared to last year.
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Grashchenkov: Affordable housing will become a key issue in the pre-election year
Photo: Tula Press October 2 – SM.News news agency. The mortgage crisis in Russia in 2025–2026 was caused by a sharp rise in mortgage rates to 18–25%, reduced availability of preferential programs and a deterioration in citizens’ real incomes, 02.10.2025. Kazan.Sm.News. Republic of Tatarstan. Kazan.