Joe you have addicted us to your business and economy reports that depends up on politics which highly affects the economy, but the addiction is not only to click and see your video-reports of business-economy-politics but also addicted to your end of video "smile brief-section" . Sometimes we want to quit after seeing all the important 75% of the video, but we can't without seeing the end smile brief section.
Stop intentionally pushing false Russian economic talking points. The Russian rate of inflation is NOT ~"8%", it is 25% to 30%. And furthermore you KNOW it! 😡
Building of homes may have gone up in Western Russia but in the rural areas of the rest of Russia people are still living in shacks without indoor toilets or made up roads. Russia is as we say in the north of England is "All fur coat and no knickers"
@@Emerott communal outhouses. That's why toilet looting was so popular in the beginning of the war. I'm sure they figured out eventually that plumbing and sewage is required for toilets and they gave up on the dream of having a personal porcelain throne back at home.
@@Emerottas usual, everything was distorted. in those statistics there were houses not connected to the central sewerage system. they may have a septic tank, and not a hole in the ground
The fact that they quit the mortgage subsidization tells us something: they couldn't afford to keep it up with the ongoing and ever increasing war costs. It's the age old "butter vs bullets" conundrum coming into play yet again. You can't have a full blown war economy AND a healthy normal economy at the same time, one has to give way for the other.
you can if you print your own global reserve currency, of course at the expense of your citizens, but who cares. THey are slaves anyway and dont even know it
And why subsidise private owners? Other taxpayers living in rented apartments have tributed to this, but they won't receive money of the revenue when the properties are sold. I guess Putin wanted to help his friends in their palaces 😊.
@torbenlarsen331 Mortgage subsidization is probably a whole other can of worms that could be discussed. The issue though, is that it's definitely seen as a "luxury expense" which had to be cut due to other costs. Also, pulling it out and seeing the drop afterwards is definitely indicative of a problem as it looks like that market was dependent on being subsidized. It looks like it was being used as a crutch, which was suddenly ripped away.
really, well let me give you some real facts, not wishful thinking like some people ho have a youtube channel. 1. at this time of year the big companies that still owe money to the US and other countries pay they yearly debt off at this time, which means they turns Rubles in to US dollar to pay that debt. that why every year at this time the Ruble falls. 2. at the moment we have what is called a push inflation that is caused by 3 things 2 of which is happening here in Russia and these are 2a - the price of raw goods are going up that is due to the fact that more companies have opened up here and they are fighting for those goods thus offering higher prices than their competitors 2b - wages are going up due to the fact that more companies have opened thus in order to get the work force they have to offer higher wages than their competitors, as it is 3/4 of the wages here is only needed to live on. thus they have extra money which they can spend on. these 2 reasons are why inflation is rising. now has for the interest rates, well a high interest rate also means that if you put money in the saving you get a higher interest on that money at the moment here is 18% on you money you leave in the bank, unlike the UK which is 3% and the US 4-5% so if you put 100 in to a bank in Russia you get 18 in interest, were in the US you only get 5 at the moment the salaries are 125, 000 Rubles which 90 000 is needed to pay the mortgage / buy food / any so. leaving 35 000 as spare cash to buy what you want or put into savings. so having a 100 in your saving get you what Russia = 16 low tax USA = 5 high tax UK = 3 high tax so it better to have your money in Russia. the Russia government has 3 slush funds totalling of around +/- 10 trillion dollars that 1/3 of the USA government debt while the Russian government debt is 800 billion. 10% of it GDP. that is 12 times their total debt why do you think that the Russian have not made a big fuss about the 380 billion dollars that the EU stole from them, and they did steal it. while the UK debt is running around about 98% of GDP the USA debt is running at 102% of GDP the EU debt is running at 81% so how countries is RUBBLE. now let look at the USA and UK. in the UK the average person is said to have 60 000 in personal debt. while the average salary is 35 000 that 2 twice what the person earns per year while in the USA you need a 110 000 in order to get a mortgage for a house while the average salary is 55 000 so both partners need to earn more than 55 000. the USA, UK and the EU is a debt driven countries which means that with out debt the economy will stop. it is said that 80% of the USA UK and EU live hand to mouth meaning that they just have enough money it pay their debts and feed themselves, with no spare cash to save.
@@EmpiricalEmpire-ei7eowhat a load of nonsense, have you ever just sat back and thought how full of it you are. I’m embarrassed you exist, it must be a real burden knowing you and your family, I bet the people around you switch off when you start talking.
They have an aging population, a declining population, and they are sending an entire generation of Russian men to their doom in Ukraine. Who is buying this housing?
Urbanization is a thing and little by little the countryside is getting emptier, and I guess the most popular cities need more apartments (in a vacuum anyway). Also old buildings might be in bad shape and new ones are being built on those plots. Or would be, if the economy allowed it. I guess from now on Russians will have to make do with the buildings they already have, for the most part...
@@MrMakabar inflation is only a temperay, the Russia salaries are a lot better than in the US 1/4 is spare cash about 35 000. and with the amount of jobs been created it forcing the salaries up. as a person that live here I should know better than you, and in Siberia the mortgage rates ate about 4.1%
Dont get too happy, I can see the future, and its nuclear. Tick Tock, all of what you see is theater but good luck ever figuring that out. People just cannot accept reality when its right in front of them, if you are rich, if I were you, id get to the southern hemisphere before Friday the 13th 12/13 Good luck friend
It will be interesting to see what the Russian banks do when the companies building the apartment blocks can no longer sell them and therefore cannot repay the loans to the banks. Then there are the apartment buyers who cannot repay their loans. Whether the Russian central bank will still have enough money to support the big banks when so much money has been poured into the army is also questionable. If I were Russian, I would be very worried about my savings.
Here is an interesting footnote: I have an acquaintance in Kaliningrad and close to her house, a developer had been constructing for the past two years a large apartment complex to sell the individual units. But due to the lack of sufficient early sales and the high cost of further construction loans, the entire project was demolished last month. Just empty land now.
With ~4.5% interest rate, half of my monthly payment goes to cover the interest rate and the other half goes to decrease the loan itself. I can't imagine the interest rate of 30% or 40%. Basically, your monthly payment drastically increases and you can BARELY afford to pay off the interest..
have a read at this, is the Ture sate of Russia, by an English speaking business man in Russia ME. really, well let me give you some real facts, not wishful thinking like some people how have a youtube channel. 1. at this time of year the big companies that still owe money to the US and other countries pay they yearly debt off at this time, which means they turns Rubles in to US dollar to pay that debt. that why every year at this time the Ruble falls. 2. at the moment we have what is called a push inflation that is caused by 3 things 2 of which is happening here in Russia and these are 2a - the price of raw goods are going up that is due to the fact that more companies have opened up here and they are fighting for those goods thus offering higher prices than their competitors 2b - wages are going up due to the fact that more companies have opened thus in order to get the work force they have to offer higher wages than their competitors, as it is 3/4 of the wages here is only needed to live on. thus they have extra money which they can spend on. these 2 reasons are why inflation is rising. now has for the interest rates, well a high interest rate also means that if you put money in the saving you get a higher interest on that money at the moment here is 18% on you money you leave in the bank, unlike the UK which is 3% and the US 4-5% so if you put 100 in to a bank in Russia you get 18 in interest, were in the US you only get 5 at the moment the salaries are 125, 000 Rubles which 90 000 is needed to pay the mortgage / buy food / any so. leaving 35 000 as spare cash to buy what you want or put into savings. so having a 100 in your saving get you what Russia = 16 low tax USA = 5 high tax UK = 3 high tax so it better to have your money in Russia. the Russia government has 3 slush funds totalling of around +/- 10 trillion dollars that 1/3 of the USA government debt while the Russian government debt is 800 billion. 10% of it GDP. that is 12 times their total debt why do you think that the Russian have not made a big fuss about the 380 billion dollars that the EU stole from them, and they did steal it. while the UK debt is running around about 98% of GDP the USA debt is running at 102% of GDP the EU debt is running at 81% so how countries is RUBBLE. now let look at the USA and UK. in the UK the average person is said to have 60 000 in personal debt. while the average salary is 35 000 that 2 twice what the person earns per year while in the USA you need a 110 000 in order to get a mortgage for a house while the average salary is 55 000 so both partners need to earn more than 55 000. the USA, UK and the EU is a debt driven countries which means that with out debt the economy will stop. it is said that 80% of the USA UK and EU live hand to mouth meaning that they just have enough money it pay their debts and feed themselves, with no spare cash to save.
here something that will make you cry even more and show how much cheaper it is here. Yekaterinburg a 2 bedroom apartment in the centre North, close to the city centre is 19000 Rub (190 us dollars ). to but that apartment it 500,000 RUB ( 5,000 US dollars) with a mortgage from 4.1% the same as what the USA pay in interest.
I loved that bit from the last winter. The hot water pipes bursting (probably due to spare parts being sanctioned) turning roads into rivers. I want to see 1000x of that.
It really puts into perspective mortgage rates in the US and other countries over the last 20+ years. Some are now bitterly complaining that some loans are up to 8% now. Imagine looking back on 8% as the good ol' days.
@@blablup1214 yes you are not wrong there, but here houses are cheaper than in the US, with about the same mortgage rates of 4.1% and when your wages are greater than your expensive then what. here in Russia. 1/4 of the wages are spare cash can you say the same in your country
Because Russia is so corrupt. Everyone in the process takes a "cut". That, and the fact that Russia does not have a diverse business sector, they mainly sell hydrocarbon fuels, fertilizer and once, sold military equipment, though that sector seems to be dying internationally. Putin is an abject failure of a leader imho.
Interest rates that will destroy the Russian economy. Putin made some very poor decisions considering pre-war, the international money was pouring in for hydrocarbons.
dont ask him he has know idea. the gas prices here is 75 RUB per litre (0.75 USD). and heating as like most place go up in winter but not by much. 1.45% increase
@@johnridout6540 no it been around about that price for Years, and yes the Russian government does supplement the prices but that been a Russian think going as far back as 2008 when I first moved my whole company operation here. wishful think does not make things come true
@@EmpiricalEmpire-ei7eo woa thats so expensive. i cant believe how much cheaper the gas is here in the west as in russia, the gas station who tries to be a country. with an average of 800 dollar income in russia gas is, several times more expensive in russias as in europe. Russia really is an unbelivable poor country when even gas is several times more expensive for russians than for us. thanks god we are not russian right. And yes you are right, joe really isnt that good. but i like to watch him sometimes because he entertains us all about the downfall of russia. lets drink our coffee in the rich west and have fun watching our daily entertainment. russias downspiral at least will us entertain for the next 3 years, allthough i hope they will hold trough for at least 5 years until they collapse. thats important for the long term effects for russia, for entertainment purposes and least for me as a german (dont know where you are from) the war is pretty helpfull for our rearmament and the millitary industry. it will need at least 5 years to completely rearm the millitary but considering that russia looses 10000 soldiers every week now, i hope north corea can help out, because otherwise i dont know wheather russia will hold 5 additional years
Another indicator...another bit of info re: Russian economy. Thank you for explaining comparison to China-subsidy scheme. Belt tightening indeed in property sector. Inflation...is going to go up. GDP down. Thanks Joe! Triple boop! 🥰
I cannot imagine he does not have severe anxiety. With his shaking hands, shuffling feet and, at times bloated face, I would not be surprised if he is as drugged up as a former leader of Germany was before his suicide.
Thing is russia had an almost static population so no great need for a booming construction sector, but the state cancelling subsidy programs is one more nail in the coffin indicating they don't have the 'fiscal freedom' anymore to keep it running. The more things like this get cancelled the more disgruntled people there will be. Their publicly shared budget predictions make absolutely no sense. On a static or decreasing tax revenue basis, they plan (on paper) to keep sustaining all their public services and subsidies expenses at previous year level while boosting military expenses like +40%. If you learnt any maths at school, it doesn't work like that...
The RF has a dwindling population. The need for new construction is driven more by the fact that many #OrdinaryRussians live in old flats in buildings which were considered temporary even during construction (like those infamous panel blocks from 1970s, which had 40 years of expected lifetime)
@@RomanKovbasyuk they no longer exist. Yekaterinburg a 2 bedroom apartment in the centre North, close to the city centre is 19000 Rub (190 us dollars ). to but that apartment it 500,000 RUB ( 5,000 US dollars) with a mortgage from 4.1% the same as what the USA pay in interest. and that brand new built.
😂 I can't believe how high the mortgage Rates in RUzzia 🤯. I'm paying 4% now, this is the highest I ever had paid, before I used to pay 2.99% in my first house and later 3.6% in my second House.
This is an interesting comment, but just for clarity, for information (and possibly a reminder to the older folks) that the UK mortgage (interest) rates (again just for clarity in the UK) in the mid 1990's did rise to over 13.5 %, which, at the time was a very tough situation for many, so, please be aware that interest rates can and do fluctuate quite wildly.
Most Americans didn't experience. This. A 9% rate was normal in the 80s and 90s here. The 21st century has been skewed due to reduced rates following the 2008 crash so you basically just got lucky at your age
@@videodukeuk But there is very little rented accommodation in UK. It is mainly owner-occupier. It's a different scenario. In Germany, for example, it is mainly rented properties. A good retirement scheme is to build a house with 4-6 flats, live in one and rent the rest out.
Lots of interesting comments n thoughts...., bottom line, interest in UK rates have been historically low for quite some years.... great, but, thats not the norm.... and intetest rates can be very, very high.... thats a fault of Putin. Regards P xx
And in January 25 the new income taxes progression kicks in. So if you have a mortgage running on floating interest youll not only pay more for it but youll receive less money from your work because of taxation. Next Putin is likely going to offer a debt relief if youre going to sign a contract with the military. Then the trap will snap. 1st youve been encouraged to move job to military industrial complex and to buy a new home for you and your family on low mortgages, then the 8% slipped away, then the better income from the new job benefits less and its cold in Russia in January, February, March and April... and youll find yourself in the trenches of Kharkiv.
taxes will be raised for people who earn more than 250,000 per month ($2,500 after taxes. health insurance, pension contributions, personal income tax paid by the employer) while you yourself say that the average salary in Russia is $300. therefore, your conclusions are far from reality
@Joe Blogs . Joe you have addicted us to your business and economy reports that depends up on politics which highly affects the economy, but the addiction is not only to click and see your video-reports of business-economy-politics but also addicted to your end of the video "the end-smile-section" . Sometimes we want to quit after seeing all the important 75% of the video, but we can't without seeing the smile brief end section.
It's so odd looking at mortgage rates in Russia from the US. Even at a subsided 8% it's high. At 28% it's insane. For reference, the mortgage rate in the US is 4.8%>
hate to burst your bubble but the mortgage rates here are 4.1% not 28% have no idea where his getting is numbers from. maybe the little voice in his head.
@@daviddelgado6090 so let me get this right you would take the world of some one that has never been here as no idea about what it really like here, over the word of some one that lives here. that sounds a bit silly to me. if you want to see for yourself message me on my site and I will give you the ad link so you can see for your self
There is still influx of capital (compensation for wounded or killed soldiers), which is usually being invested in small (1 bedroom) apartments for a BTL scheme. In this sector, you might even see some growth.....
It's hard to feel sorry for Russia & China, as the internal problems of their leadership and confidence in the government is self-inflicted, that it's impossible to foresee a long-term future for either administration. Granted that it could be worse and be North Korea, it could be no better than Argentina. Of course, now that Trump believers & Republicans have given Trump and Republicans control of the Presidency, Judiciary, Senate and Congress, we'll see if Joe will be providing videos on the United States soon enough.
Yes, the US is in for a huge surprise. Trump's madness / incompetence will screw the economy, resulting in massive social tension and unrest on a scale not seen before in our lifetime.
Hey Jo, What's going on with the Russian Ruble now? Can you explain why it has stabilized around 106? Is it easier for the Russian's to support the ruble now that it isn't traded? So many questions
Won't people be underwater on their loans and stop paying? The banks will foreclose on worthless collateral, just like US in 2008. Banks are already floundering. This will result in total collapse of the sector. Oligarchs will be miffed.
A huge issue will also become "under water" mortgages as house pricing starts to deteriorate. This means as morgage loans fold, banks will sit on properties which will not cover the full morgage.
I always love you initial grin:D It's like... "Hi lets watch some poor devil's house burn while eating popcorn and discussing what caused the fire as he is trying to pull his burning bed out into the snowy night. It'll be hillarious" And it is. It truly is.
Inflation reduction requires production in actual physical infrastructure. No building means more inflation until the depression takes over with stagflation. Within three years the loss of productive capacity effects the entire economy
So people who got 6% mortgages would that be fixed for the life of the mortgage or would they have to renew their mortgage at the new rates. If they have to renew their mortgages they would go from 6% to currant interest rates or would higher currant rate only apply to new mortgages being taken out not existing mortgages
Was wondering the same thing. If the rate is fixed for the duration, these people can pay off the principal for the price of a block of butter within just a few years.
Just another thing for Trump's todo list: 1) Force Ukraine to capitulate 2) Drop sanctions on Russia 3) Bolster ruble 4) Blame Harris 5) Go after all judges and prosecutors who indicted him 6) Fix Russian property crisis 7) ...
A crazy thought just crossed my mind, "what if they are intentionally taking out the industry to get more people into other jobs/to increase unemployment/to get more meat for the grinder"
What are the Loan-to-Value ratios of old mortgages if they are re-calculated using current house prices? They were overestimating this while the subsidy was in place because the resale value of the new house was much less than the purchase price (purchase price was driven up by subsidy eligibility while resale was not eligible; however the resale value is one that is most important in case of default). Just wondering if the Russian mortgage industry is still trying to cover this bubble up by tweaking LVR stats, or maybe they don’t even publish them anymore.
What also needs to be considered is the potential glut of properties on the market from the depleted wage earning population directly attributed to the war and those leaving RuZZia to avoid conscription. With a glut of unaffordable homes hitting the market, not only will constructors go broke, but the value of homes fall into negative equity triggering the banks to demand repayment creating a spiralling doom loop of bankruptcies which will put the banks under increasing pressure until they begin to fail.
The Russian economy is clearly overheated, with very low unemployment, and widespread labor shortages. In some way, a downturn in construction will alleviate these pressures, but at significant cost. The government will receive less in taxes, and will have to spend more in social programs, and if things get bad enough as developers go under and consumers default on mortgages the banks could run into problems.
Joe, could you do a session on the (actual) inflation rate in Russia? You use two figures as if both are factual - the official bank rate and the official inflation rate. The Russian government has a vested interest in lying about both. However, the bank rate can easily be found by cross-checking commercially available mortgage data, so they can’t lie outright about that. Inflation figures are derived from hidden data and hence easier to fudge (aka lie). There are UA-cam channels that look bottom-up via food and essentials prices. There are others that take a top-down/academic approach using known figures such as bank rate. Both conclude that inflation is most likely to be far higher, probably (at least) double the official rate. Surely you can cross-check against food prices, rental prices, fuel prices etc to get at least a feel as to whether 8% is “reasonably believable”?
It will be an interesting experiment in the Russian economy to see if 35% mortgages actually have any effect on inflation. I suspect it won't on food as the Russian economy is importing it through the barter system or using other currencies like the yuan.
That's a great question, I would have thought that much of the property in Russia is rented accommodation. Maybe if Joe reads the comments, he'll pick up on that for a future video.
i take these posts with a grain of salt tbh. other reputable sources say Russia is hurting, that stagflation is imminent but the economy is not near collapse.
what happens to those mortgages in those cities that have been leveled and residents left? I can not imagine those people are still paying their mortgages if they can not live there..
Why did you have a segment break in the FUM (can't type an umlaut) commercial? That was odd. More related to the video: Venezuela's not very careful financial support of the lowest income groups mostly housed in the favelas created a noticeable continuity of materials and methods of construction. Brazil's are more irregular and "slum" like. Those in Venezuela were amazingly consistent. They had the same organic and harmonious beauty of the villages of ancient Greek island or Italian hill towns. They weren't settled with any kid of overall control but somehow just grew that way even with better funding from the government. That type of settlement in both countries were also built of more substantial materials (reinforced concrete frames and floors, concrete block and tile etc) than even the rural New Hampshire village district I live in. I don't think either of them suffer from major building fires. I'm always worried the trees around here or something else might burn the whole area out. It's happened so many times these past few years all over the USA. You can see the favelas from the inside on a site called Indigo traveler.
Is there information available about what types of properties are being sold? I wonder if the composition has changed towards larger/smaller houses or moved between regions.
Sadly I think there is at least one downside to this story. Putin may find it easier to get volunteers for his genocidal war against Ukraine. If nobody is constructing houses that means a lot of unemployed construction workers and one of Putin's problems at the moment is that Russian unemployment is almost none existent, so it is hard to recruit people, not just for the Russian Armed Forces, but also into the defense industry, so the bribes offered to face almost certain death/serious injuries in Ukraine are very high. In addition, if people do have floating rates and can't pay them, that might drive more people to accept the wages Putin is offering to go and participate in war crimes.
The rural areas also have the issue of either no infrastructure or crumbling infrastructure. Now there is affordable property in Syria coming on the market for Russians!
No subsidization is still here. There was a problem with it. I will explain there was a family mortgage like you got a child you can take 6-8% for a new appartment (no for second hand). AND the problem was like you know people could take 5 at the same time. FIVE CARL how it's works, how people can afford it? Well you take first appartment rent it out, then next rent it out. You even earn some surplus on this shinanigans. Goverment allowed it cos it's gave drive for housing and developers to earn a shit ton to not sink in case of any problems. But now it's need to be controlled or we loose whole housing market. But thats not gonna happen in general we got to damn much goverment regulations and controls what it wont allow them to bankrupt, we already had two waves of bankrupcy from big developers so lessons learned and fixes have been made. So no china will be here. I would love, got a lot of money to buy some half priced appartments, but rly low chance. Let's see in 3-5 years will it age well or not. Cos i expecting housing market crash in 3-5 years IF it's happens not right now for sure.
Oh come on, @Joeblogs, I have it on great authority that the Russian economy is booming. Look at their GDP!! 😂 Keep up the good work. Love the channel.
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Hi Joe, thank you for all the amazing videos. ❤ 👍
Joe you have addicted us to your business and economy reports that depends up on politics which highly affects the economy, but the addiction is not only to click and see your video-reports of business-economy-politics but also addicted to your end of video "smile brief-section" . Sometimes we want to quit after seeing all the important 75% of the video, but we can't without seeing the end smile brief section.
Dangerous sponsor. It's not flavoured air, you're inhaling essential oils. Irresponsible.
Stop intentionally pushing false Russian economic talking points. The Russian rate of inflation is NOT ~"8%", it is 25% to 30%. And furthermore you KNOW it! 😡
Building of homes may have gone up in Western Russia but in the rural areas of the rest of Russia people are still living in shacks without indoor toilets or made up roads. Russia is as we say in the north of England is "All fur coat and no knickers"
All shacks and no shitters, is the gonna be the Russian version of the idiom. Round my way (north western East Anglia) is: All mouth and no trousers.
30 millions Russians only have outhouses. That's all you know about the state of the society.
@@Emerott communal outhouses. That's why toilet looting was so popular in the beginning of the war. I'm sure they figured out eventually that plumbing and sewage is required for toilets and they gave up on the dream of having a personal porcelain throne back at home.
Russia is the best kind of date?
@@Emerottas usual, everything was distorted. in those statistics there were houses not connected to the central sewerage system. they may have a septic tank, and not a hole in the ground
The fact that they quit the mortgage subsidization tells us something: they couldn't afford to keep it up with the ongoing and ever increasing war costs. It's the age old "butter vs bullets" conundrum coming into play yet again. You can't have a full blown war economy AND a healthy normal economy at the same time, one has to give way for the other.
you can if you print your own global reserve currency, of course at the expense of your citizens, but who cares. THey are slaves anyway and dont even know it
And why subsidise private owners? Other taxpayers living in rented apartments have tributed to this, but they won't receive money of the revenue when the properties are sold.
I guess Putin wanted to help his friends in their palaces 😊.
@torbenlarsen331 Mortgage subsidization is probably a whole other can of worms that could be discussed. The issue though, is that it's definitely seen as a "luxury expense" which had to be cut due to other costs. Also, pulling it out and seeing the drop afterwards is definitely indicative of a problem as it looks like that market was dependent on being subsidized. It looks like it was being used as a crutch, which was suddenly ripped away.
And when his war chest is empty, both pack up.
You’d think the only hot real estate in Russia would be cemetery plots.
We've already seen Russian undertakers promoting people to go to the front.
Oil refining and storage is pretty hot at the moment!
Heyo!
Boom! 💥 You win the comments today.
There is a reason why in Finnish verb "Ryssiä" (Muscovy ) , roughly meaning "to totally fail something".
The ruble is turning into RUBBLE. The Russian army is turning into RUBBLE. And now Russian buildings are turning into RUBBLE.
And RUBBLE will turn into SHIT in Russia. That's because everything in Russia is shit, except piss. (An old Finnish saying.)
really, well let me give you some real facts, not wishful thinking like some people ho have a youtube channel.
1. at this time of year the big companies that still owe money to the US and other countries pay they yearly debt off at this time, which means they turns Rubles in to US dollar to pay that debt. that why every year at this time the Ruble falls.
2. at the moment we have what is called a push inflation that is caused by 3 things 2 of which is happening here in Russia and these are
2a - the price of raw goods are going up that is due to the fact that more companies have opened up here and they are fighting for those goods thus offering higher prices than their competitors
2b - wages are going up due to the fact that more companies have opened thus in order to get the work force they have to offer higher wages than their competitors, as it is 3/4 of the wages here is only needed to live on. thus they have extra money which they can spend on.
these 2 reasons are why inflation is rising.
now has for the interest rates, well a high interest rate also means that if you put money in the saving you get a higher interest on that money at the moment here is 18% on you money you leave in the bank, unlike the UK which is 3% and the US 4-5% so if you put 100 in to a bank in Russia you get 18 in interest, were in the US you only get 5
at the moment the salaries are 125, 000 Rubles which 90 000 is needed to pay the mortgage / buy food / any so.
leaving 35 000 as spare cash to buy what you want or put into savings.
so having a 100 in your saving get you what
Russia = 16 low tax
USA = 5 high tax
UK = 3 high tax
so it better to have your money in Russia.
the Russia government has 3 slush funds totalling of around +/- 10 trillion dollars that 1/3 of the USA government debt while the Russian government debt is 800 billion. 10% of it GDP.
that is 12 times their total debt
why do you think that the Russian have not made a big fuss about the 380 billion dollars that the EU stole from them, and they did steal it.
while the UK debt is running around about 98% of GDP
the USA debt is running at 102% of GDP
the EU debt is running at 81%
so how countries is RUBBLE.
now let look at the USA and UK.
in the UK the average person is said to have 60 000 in personal debt. while the average salary is 35 000 that 2 twice what the person earns per year
while in the USA you need a 110 000 in order to get a mortgage for a house while the average salary is 55 000 so both partners need to earn more than 55 000.
the USA, UK and the EU is a debt driven countries which means that with out debt the economy will stop.
it is said that 80% of the USA UK and EU live hand to mouth meaning that they just have enough money it pay their debts and feed themselves, with no spare cash to save.
@@EmpiricalEmpire-ei7eo That's fantastic, tell Putin, he'll be very happy.
@@EmpiricalEmpire-ei7eowhat a load of nonsense, have you ever just sat back and thought how full of it you are. I’m embarrassed you exist, it must be a real burden knowing you and your family, I bet the people around you switch off when you start talking.
@@abcd-ev7jg
what don't like the truth. well facts dont care how you feel, and we see that you have no facts to counter me.
I wonder how many mortgages went into default because the mortgage holder didn't return from the battlefield
Not many. The family of the liquidated Russian war criminals usually get a hefty sum as blood money, and they could use those to pay off the mortgage.
demographics might be different, so I don't think the number would be particularly high.
They have an aging population, a declining population, and they are sending an entire generation of Russian men to their doom in Ukraine. Who is buying this housing?
I imagine it's the Military leadership on the ground. You know immediately when the owner is gone and how much family they had.
A lot of Russian housing sucks badly and inflation eats up your debt, if you have a fixed mortgage.
@@MrMakabar So it's easy to prey on vulnerable folks? They probably love it when people fail their obligations.
Urbanization is a thing and little by little the countryside is getting emptier, and I guess the most popular cities need more apartments (in a vacuum anyway). Also old buildings might be in bad shape and new ones are being built on those plots. Or would be, if the economy allowed it. I guess from now on Russians will have to make do with the buildings they already have, for the most part...
@@MrMakabar
inflation is only a temperay, the Russia salaries are a lot better than in the US 1/4 is spare cash about 35 000. and with the amount of jobs been created it forcing the salaries up.
as a person that live here I should know better than you, and in Siberia the mortgage rates ate about 4.1%
Listening to Christmas music, watching Joe Blogs videos while seeing the Russian economy slowly dying is such a vibe this year❤😊
Sanctions against Russian refined oil products are working very well
Dont get too happy, I can see the future, and its nuclear. Tick Tock, all of what you see is theater but good luck ever figuring that out. People just cannot accept reality when its right in front of them, if you are rich, if I were you, id get to the southern hemisphere before Friday the 13th 12/13 Good luck friend
Christmas music? Try waiting 20 more days. Also premature Christmas decorating is forbidden.
Real Estate in Russia comes with an infestation of Poutins, very expensive to get rid of, and very toxic.
It will be interesting to see what the Russian banks do when the companies building the apartment blocks can no longer sell them and therefore cannot repay the loans to the banks. Then there are the apartment buyers who cannot repay their loans. Whether the Russian central bank will still have enough money to support the big banks when so much money has been poured into the army is also questionable. If I were Russian, I would be very worried about my savings.
It would not be the first Time that the Russian Government makes a Currency Reform that anihilates Savings.
Here is an interesting footnote: I have an acquaintance in Kaliningrad and close to her house, a developer had been constructing for the past two years a large apartment complex to sell the individual units. But due to the lack of sufficient early sales and the high cost of further construction loans, the entire project was demolished last month. Just empty land now.
Wow! The construction company must have taken an unbelievable economic hit by destroying everything! Thanks for sharing 👍
With ~4.5% interest rate, half of my monthly payment goes to cover the interest rate and the other half goes to decrease the loan itself. I can't imagine the interest rate of 30% or 40%. Basically, your monthly payment drastically increases and you can BARELY afford to pay off the interest..
have a read at this, is the Ture sate of Russia, by an English speaking business man in Russia ME.
really, well let me give you some real facts, not wishful thinking like some people how have a youtube channel.
1. at this time of year the big companies that still owe money to the US and other countries pay they yearly debt off at this time, which means they turns Rubles in to US dollar to pay that debt. that why every year at this time the Ruble falls.
2. at the moment we have what is called a push inflation that is caused by 3 things 2 of which is happening here in Russia and these are
2a - the price of raw goods are going up that is due to the fact that more companies have opened up here and they are fighting for those goods thus offering higher prices than their competitors
2b - wages are going up due to the fact that more companies have opened thus in order to get the work force they have to offer higher wages than their competitors, as it is 3/4 of the wages here is only needed to live on. thus they have extra money which they can spend on.
these 2 reasons are why inflation is rising.
now has for the interest rates, well a high interest rate also means that if you put money in the saving you get a higher interest on that money at the moment here is 18% on you money you leave in the bank, unlike the UK which is 3% and the US 4-5% so if you put 100 in to a bank in Russia you get 18 in interest, were in the US you only get 5
at the moment the salaries are 125, 000 Rubles which 90 000 is needed to pay the mortgage / buy food / any so.
leaving 35 000 as spare cash to buy what you want or put into savings.
so having a 100 in your saving get you what
Russia = 16 low tax
USA = 5 high tax
UK = 3 high tax
so it better to have your money in Russia.
the Russia government has 3 slush funds totalling of around +/- 10 trillion dollars that 1/3 of the USA government debt while the Russian government debt is 800 billion. 10% of it GDP.
that is 12 times their total debt
why do you think that the Russian have not made a big fuss about the 380 billion dollars that the EU stole from them, and they did steal it.
while the UK debt is running around about 98% of GDP
the USA debt is running at 102% of GDP
the EU debt is running at 81%
so how countries is RUBBLE.
now let look at the USA and UK.
in the UK the average person is said to have 60 000 in personal debt. while the average salary is 35 000 that 2 twice what the person earns per year
while in the USA you need a 110 000 in order to get a mortgage for a house while the average salary is 55 000 so both partners need to earn more than 55 000.
the USA, UK and the EU is a debt driven countries which means that with out debt the economy will stop.
it is said that 80% of the USA UK and EU live hand to mouth meaning that they just have enough money it pay their debts and feed themselves, with no spare cash to save.
here something that will make you cry even more and show how much cheaper it is here. Yekaterinburg a 2 bedroom apartment in the centre North, close to the city centre is 19000 Rub (190 us dollars ).
to but that apartment it 500,000 RUB ( 5,000 US dollars) with a mortgage from 4.1% the same as what the USA pay in interest.
@@EmpiricalEmpire-ei7eo What a nonsensical post. No real russian at Dvach's biz forum would agree with you.
@@rmdomainer9042
and since I live in Siberia I think I should know the house prices
@@rmdomainer9042
yes they would, since it fact... I just pulled that over 1 hour ago
More good news coming from Mordor. Now we have to wait to hear about burst pipes, crumbling infrastructure....and frostbite!
Konstantin has already had reports of that last week. Specificially, bursting heating pipes because of crumbling infrastructure...
It's starting to get colder again now, actually
I loved that bit from the last winter. The hot water pipes bursting (probably due to spare parts being sanctioned) turning roads into rivers. I want to see 1000x of that.
It really puts into perspective mortgage rates in the US and other countries over the last 20+ years. Some are now bitterly complaining that some loans are up to 8% now. Imagine looking back on 8% as the good ol' days.
But they had big wage growth at the same time.
Some people make in rubles 30,% 40% or 50% more than a few years ago....
It's 8% but on often more than a million dollars.
@@blablup1214
yes you are not wrong there, but here houses are cheaper than in the US, with about the same mortgage rates of 4.1% and when your wages are greater than your expensive then what. here in Russia. 1/4 of the wages are spare cash can you say the same in your country
@@EmpiricalEmpire-ei7eo About half of my income is spare cash. But this isn't common.
What intrigues me is why so many rural Russian properties are in such appalling condition. Slava Ukraine!
Because Russia is so corrupt. Everyone in the process takes a "cut". That, and the fact that Russia does not have a diverse business sector, they mainly sell hydrocarbon fuels, fertilizer and once, sold military equipment, though that sector seems to be dying internationally.
Putin is an abject failure of a leader imho.
Interest rates that will destroy the Russian economy. Putin made some very poor decisions considering pre-war, the international money was pouring in for hydrocarbons.
30% of Russia does not have indoor plumbing.
Russian authorities spent "...around 1 Trillion Rubles.." on discounted mortgages.
So around USD$4.13, then?
Brother Joe, what is happening with domestic gasoline and heating costs in RuZzZzia?
dont ask him he has know idea.
the gas prices here is 75 RUB per litre (0.75 USD). and heating as like most place go up in winter but not by much. 1.45% increase
The export ban on refined petroleum and price controls is keeping the price down at the pump. It's a short term measure to paper over the cracks.
@@johnridout6540
no it been around about that price for Years, and yes the Russian government does supplement the prices but that been a Russian think going as far back as 2008 when I first moved my whole company operation here.
wishful think does not make things come true
@@EmpiricalEmpire-ei7eo woa thats so expensive. i cant believe how much cheaper the gas is here in the west as in russia, the gas station who tries to be a country. with an average of 800 dollar income in russia gas is, several times more expensive in russias as in europe. Russia really is an unbelivable poor country when even gas is several times more expensive for russians than for us. thanks god we are not russian right. And yes you are right, joe really isnt that good. but i like to watch him sometimes because he entertains us all about the downfall of russia. lets drink our coffee in the rich west and have fun watching our daily entertainment. russias downspiral at least will us entertain for the next 3 years, allthough i hope they will hold trough for at least 5 years until they collapse. thats important for the long term effects for russia, for entertainment purposes and least for me as a german (dont know where you are from) the war is pretty helpfull for our rearmament and the millitary industry. it will need at least 5 years to completely rearm the millitary but considering that russia looses 10000 soldiers every week now, i hope north corea can help out, because otherwise i dont know wheather russia will hold 5 additional years
Another indicator...another bit of info re: Russian economy. Thank you for explaining comparison to China-subsidy scheme. Belt tightening indeed in property sector. Inflation...is going to go up. GDP down. Thanks Joe! Triple boop! 🥰
house prices up by 6% and general inflation 28% means that the real value of property is declining.
I still don't think Putin cares.
Not yet anyway.
I cannot imagine he does not have severe anxiety.
With his shaking hands, shuffling feet and, at times bloated face, I would not be surprised if he is as drugged up as a former leader of Germany was before his suicide.
Thing is russia had an almost static population so no great need for a booming construction sector, but the state cancelling subsidy programs is one more nail in the coffin indicating they don't have the 'fiscal freedom' anymore to keep it running.
The more things like this get cancelled the more disgruntled people there will be.
Their publicly shared budget predictions make absolutely no sense. On a static or decreasing tax revenue basis, they plan (on paper) to keep sustaining all their public services and subsidies expenses at previous year level while boosting military expenses like +40%. If you learnt any maths at school, it doesn't work like that...
The RF has a dwindling population. The need for new construction is driven more by the fact that many #OrdinaryRussians live in old flats in buildings which were considered temporary even during construction (like those infamous panel blocks from 1970s, which had 40 years of expected lifetime)
@@RomanKovbasyuk
they no longer exist. Yekaterinburg a 2 bedroom apartment in the centre North, close to the city centre is 19000 Rub (190 us dollars ).
to but that apartment it 500,000 RUB ( 5,000 US dollars) with a mortgage from 4.1% the same as what the USA pay in interest.
and that brand new built.
Who needs houses, when graveyards are cheaper?
That construction output chart is insane
😂 I can't believe how high the mortgage Rates in RUzzia 🤯. I'm paying 4% now, this is the highest I ever had paid, before I used to pay 2.99% in my first house and later 3.6% in my second House.
This is an interesting comment, but just for clarity, for information (and possibly a reminder to the older folks) that the UK mortgage (interest) rates (again just for clarity in the UK) in the mid 1990's did rise to over 13.5 %, which, at the time was a very tough situation for many, so, please be aware that interest rates can and do fluctuate quite wildly.
Most Americans didn't experience. This. A 9% rate was normal in the 80s and 90s here. The 21st century has been skewed due to reduced rates following the 2008 crash so you basically just got lucky at your age
Now my 5.25% mortgage in USA seems low.
@@videodukeuk But there is very little rented accommodation in UK. It is mainly owner-occupier. It's a different scenario. In Germany, for example, it is mainly rented properties. A good retirement scheme is to build a house with 4-6 flats, live in one and rent the rest out.
Lots of interesting comments n thoughts...., bottom line, interest in UK rates have been historically low for quite some years.... great, but, thats not the norm.... and intetest rates can be very, very high.... thats a fault of Putin.
Regards
P xx
Joe the man!!Love the channel
And in January 25 the new income taxes progression kicks in. So if you have a mortgage running on floating interest youll not only pay more for it but youll receive less money from your work because of taxation. Next Putin is likely going to offer a debt relief if youre going to sign a contract with the military. Then the trap will snap. 1st youve been encouraged to move job to military industrial complex and to buy a new home for you and your family on low mortgages, then the 8% slipped away, then the better income from the new job benefits less and its cold in Russia in January, February, March and April... and youll find yourself in the trenches of Kharkiv.
taxes will be raised for people who earn more than 250,000 per month ($2,500 after taxes. health insurance, pension contributions, personal income tax paid by the employer) while you yourself say that the average salary in Russia is $300. therefore, your conclusions are far from reality
That's perfectly sinister.
I doubt Russians will get anywhere near Kharkiv anymore.
I think he's already offering debt relief if you sign up.
The future unemployed could enlist any time.
Thanks Joe, can't get enough of it!
A lot of people are going to be upside down, down, sounds like.
Poor old ruskies.
👌, as always!! Thanks Joe! Slava Ukraine 🇺🇦!!
@Joe Blogs . Joe you have addicted us to your business and economy reports that depends up on politics which highly affects the economy, but the addiction is not only to click and see your video-reports of business-economy-politics but also addicted to your end of the video "the end-smile-section" . Sometimes we want to quit after seeing all the important 75% of the video, but we can't without seeing the smile brief end section.
Love your work Joe👍.
One of your best videos. When people can't buy a house , it will reflect very badly on Putin. They may get rid of him. From Sacramento
It's so odd looking at mortgage rates in Russia from the US. Even at a subsided 8% it's high. At 28% it's insane. For reference, the mortgage rate in the US is 4.8%>
hate to burst your bubble but the mortgage rates here are 4.1% not 28% have no idea where his getting is numbers from. maybe the little voice in his head.
@EmpiricalEmpire-ei7eo here where?
@@daviddelgado6090
so let me get this right you would take the world of some one that has never been here as no idea about what it really like here, over the word of some one that lives here. that sounds a bit silly to me.
if you want to see for yourself message me on my site and I will give you the ad link so you can see for your self
3:19 fun to inbox….really 😂. I love the other content though so keep up the good videos buddy
Russian Economy, one house = one bag of potatoes.
One shared house, one potato it seems.
There is still influx of capital (compensation for wounded or killed soldiers), which is usually being invested in small (1 bedroom) apartments for a BTL scheme. In this sector, you might even see some growth.....
Who doesn't enjoy some bad news for the country that shall not be mentioned.
Hello Joe, can you make a video about the Romanian stock market and what happened to it in the past weak? Thank you, you are a real one.
The poor young people are screwed
Yes, ...but do they support the criminal war against Ukraine?
If they are still alive 😢
If you can leave.. leave..
Looks like China
It's hard to feel sorry for Russia & China, as the internal problems of their leadership and confidence in the government is self-inflicted, that it's impossible to foresee a long-term future for either administration. Granted that it could be worse and be North Korea, it could be no better than Argentina. Of course, now that Trump believers & Republicans have given Trump and Republicans control of the Presidency, Judiciary, Senate and Congress, we'll see if Joe will be providing videos on the United States soon enough.
Yes, the US is in for a huge surprise.
Trump's madness
/ incompetence will screw the economy, resulting in massive social tension and unrest on a scale not seen before in our lifetime.
Hey Jo,
What's going on with the Russian Ruble now? Can you explain why it has stabilized around 106? Is it easier for the Russian's to support the ruble now that it isn't traded? So many questions
Won't people be underwater on their loans and stop paying? The banks will foreclose on worthless collateral, just like US in 2008. Banks are already floundering. This will result in total collapse of the sector. Oligarchs will be miffed.
I shall try FUME once they develop flavours of baking bread, frying bacon and brewing coffee.
Once building stops, wont the builders be sent to the war?
Thank you
A huge issue will also become "under water" mortgages as house pricing starts to deteriorate. This means as morgage loans fold, banks will sit on properties which will not cover the full morgage.
This is sot sustainable for property owners.
do you mean China Tofu buldings and gosh cities soon will be a copy and paste function in Russia?
Thank you for putting in the research for this video 😇
I always love you initial grin:D It's like... "Hi lets watch some poor devil's house burn while eating popcorn and discussing what caused the fire as he is trying to pull his burning bed out into the snowy night. It'll be hillarious" And it is. It truly is.
Geeze even the Russian loansharks are starting to look comparatively more appealing than the Russian central bank
Thanks Joe. Thanks for this.
Thank you Joe
Inflation reduction requires production in actual physical infrastructure. No building means more inflation until the depression takes over with stagflation. Within three years the loss of productive capacity effects the entire economy
Don't forget! Joe has a Finance Channel too!!!
So people who got 6% mortgages would that be fixed for the life of the mortgage or would they have to renew their mortgage at the new rates. If they have to renew their mortgages they would go from 6% to currant interest rates or would higher currant rate only apply to new mortgages being taken out not existing mortgages
Was wondering the same thing. If the rate is fixed for the duration, these people can pay off the principal for the price of a block of butter within just a few years.
Thank you Mr. Blogs
Just another thing for Trump's todo list:
1) Force Ukraine to capitulate
2) Drop sanctions on Russia
3) Bolster ruble
4) Blame Harris
5) Go after all judges and prosecutors who indicted him
6) Fix Russian property crisis
7) ...
+ Industrialised grifting for himself, family and friends.
A crazy thought just crossed my mind, "what if they are intentionally taking out the industry to get more people into other jobs/to increase unemployment/to get more meat for the grinder"
What are the Loan-to-Value ratios of old mortgages if they are re-calculated using current house prices? They were overestimating this while the subsidy was in place because the resale value of the new house was much less than the purchase price (purchase price was driven up by subsidy eligibility while resale was not eligible; however the resale value is one that is most important in case of default). Just wondering if the Russian mortgage industry is still trying to cover this bubble up by tweaking LVR stats, or maybe they don’t even publish them anymore.
Question is, are mortgage rates in Ruzzia fixed or floating? If floating, what are the constraints on the float? Not enough information here, Joe.
In my experience, as someone who purchased an apartment in Moscow, mortgage rates are fixed.
What also needs to be considered is the potential glut of properties on the market from the depleted wage earning population directly attributed to the war and those leaving RuZZia to avoid conscription. With a glut of unaffordable homes hitting the market, not only will constructors go broke, but the value of homes fall into negative equity triggering the banks to demand repayment creating a spiralling doom loop of bankruptcies which will put the banks under increasing pressure until they begin to fail.
Great video Joe
The Russian economy is clearly overheated, with very low unemployment, and widespread labor shortages. In some way, a downturn in construction will alleviate these pressures, but at significant cost. The government will receive less in taxes, and will have to spend more in social programs, and if things get bad enough as developers go under and consumers default on mortgages the banks could run into problems.
great job kidda
I UNDERSTAND IF YOU SEND YOUR FIRST BORN TO THE FRONT LINE, YOU GET A 2 PERCENT DISCOUNT ON MORTGAGE 26%
Whether a property crash will somehow stop the thirst of the average Russian for The Glory Of War and Conquest is a big question.
Sergie Q Publika is still planning on buying a house? When will the Ruble fail to pay for S-400s, T-72V3s and the burials of Ratniks?
Will you please explain what is going on with the economies in Germany and France right now. It seems they are on a cliff edge at the moment?
Joe, could you do a session on the (actual) inflation rate in Russia? You use two figures as if both are factual - the official bank rate and the official inflation rate.
The Russian government has a vested interest in lying about both. However, the bank rate can easily be found by cross-checking commercially available mortgage data, so they can’t lie outright about that. Inflation figures are derived from hidden data and hence easier to fudge (aka lie).
There are UA-cam channels that look bottom-up via food and essentials prices. There are others that take a top-down/academic approach using known figures such as bank rate. Both conclude that inflation is most likely to be far higher, probably (at least) double the official rate.
Surely you can cross-check against food prices, rental prices, fuel prices etc to get at least a feel as to whether 8% is “reasonably believable”?
Great update
It will be an interesting experiment in the Russian economy to see if 35% mortgages actually have any effect on inflation. I suspect it won't on food as the Russian economy is importing it through the barter system or using other currencies like the yuan.
What percentage of Russians have a mortgage?
That's a great question, I would have thought that much of the property in Russia is rented accommodation. Maybe if Joe reads the comments, he'll pick up on that for a future video.
Well, there's 149 million of them (and dropping, for various reasons), so any percentage is bound to end up in a very large number.
You can do Fixed-to-Floating Swaps. But, you do not have access to those Markets. Que Sera Sera!!!
Any idea what the collapse of Russia looks like? How much does China take? Would Central Russia become stateless?
i take these posts with a grain of salt tbh. other reputable sources say Russia is hurting, that stagflation is imminent but the economy is not near collapse.
Thank you
👍👍. However, even the low. Mortgage interest rates were on inflated house prices.
what happens to those mortgages in those cities that have been leveled and residents left? I can not imagine those people are still paying their mortgages if they can not live there..
How will this impact the value of russian owned properties in other countries?
Why did you have a segment break in the FUM (can't type an umlaut) commercial? That was odd.
More related to the video: Venezuela's not very careful financial support of the lowest income groups mostly housed in the favelas created a noticeable continuity of materials and methods of construction. Brazil's are more irregular and "slum" like. Those in Venezuela were amazingly consistent. They had the same organic and harmonious beauty of the villages of ancient Greek island or Italian hill towns. They weren't settled with any kid of overall control but somehow just grew that way even with better funding from the government. That type of settlement in both countries were also built of more substantial materials (reinforced concrete frames and floors, concrete block and tile etc) than even the rural New Hampshire village district I live in. I don't think either of them suffer from major building fires. I'm always worried the trees around here or something else might burn the whole area out. It's happened so many times these past few years all over the USA.
You can see the favelas from the inside on a site called Indigo traveler.
How is the Ukrainian market?
Fewer available units since 2022
The squatters need to be evicted first.
Is there information available about what types of properties are being sold? I wonder if the composition has changed towards larger/smaller houses or moved between regions.
Sadly I think there is at least one downside to this story. Putin may find it easier to get volunteers for his genocidal war against Ukraine. If nobody is constructing houses that means a lot of unemployed construction workers and one of Putin's problems at the moment is that Russian unemployment is almost none existent, so it is hard to recruit people, not just for the Russian Armed Forces, but also into the defense industry, so the bribes offered to face almost certain death/serious injuries in Ukraine are very high.
In addition, if people do have floating rates and can't pay them, that might drive more people to accept the wages Putin is offering to go and participate in war crimes.
The rural areas also have the issue of either no infrastructure or crumbling infrastructure.
Now there is affordable property in Syria coming on the market for Russians!
Was this filmed in August ? The holiday season is July August time it’s Christmas nearly now
No subsidization is still here. There was a problem with it. I will explain there was a family mortgage like you got a child you can take 6-8% for a new appartment (no for second hand). AND the problem was like you know people could take 5 at the same time. FIVE CARL how it's works, how people can afford it? Well you take first appartment rent it out, then next rent it out. You even earn some surplus on this shinanigans. Goverment allowed it cos it's gave drive for housing and developers to earn a shit ton to not sink in case of any problems. But now it's need to be controlled or we loose whole housing market. But thats not gonna happen in general we got to damn much goverment regulations and controls what it wont allow them to bankrupt, we already had two waves of bankrupcy from big developers so lessons learned and fixes have been made. So no china will be here. I would love, got a lot of money to buy some half priced appartments, but rly low chance.
Let's see in 3-5 years will it age well or not. Cos i expecting housing market crash in 3-5 years IF it's happens not right now for sure.
Who is holding these subsidized bonds. If it's a private bank, then they are in trouble those bonds are probably worth pennies on the dollar.
Mortgage rates can tell you a lot about inflation.
1:23 dam 1 trill rubles...wow that is like $850 bucks now right?
Russian economy is in a death spiral at this point
Oh come on, @Joeblogs, I have it on great authority that the Russian economy is booming. Look at their GDP!! 😂
Keep up the good work. Love the channel.
It's cictizens are certainly 'booming' in the trenches.
@@NemesisoftheGrandPoohbahputin
and you know this how? are you here in Russia.
@@EmpiricalEmpire-ei7eo
Evidence of my eyes.
I see the videos.
'The Black Mile'
😉
все будет по плану
@@davefave4351
no what you see is Ukraine properganda videos.
look at patrick lancaster videos
When brawny fit young builders find themselves out of work, where do you think that they can find employment with a very generous sign on bonus and exciting foreign travel opportunities?
Thanks
GOOD
There is only one " thing"......keeping Russia in past
Political leaders & Co.