Russians are beginning to lure people to war against Ukraine with preferential mortgages
russian dictator vladimir putin has publicly instructed that the conditions of the family preferential mortgage program be extended to the families of participants in the so-called “smo”.
▫️This initiative was announced at a time when the mortgage market in russia is at a historic low. Mortgages are currently unaffordable for the vast majority of the population due to extremely high interest rates. Even the reduced rates under the preferential mortgage program are out of reach for many, as the required 20% down payment is still too high. Moreover, in practice, the state allocates very limited funding for such mortgage programs.
Therefore, amid a deepening mortgage crisis and a wave of bankruptcies among developers, russian authorities are effectively making participation in the war against Ukraine the only way for many citizens to have a chance at new housing.
Heavy losses on the battlefield require constant replenishment of manpower, yet the number of russians willing to fight — even for money — continues to decline. As a result, kremlin is trying to invent new ways to incentivize people to go to war.
