The excitement in the real estate market is often explained by people rushing to save their excess money. And even if people buy square meters on credit at exorbitant interest rates, they invest in this way and secure the future of their children. It seems logical. But it seems that everything is not so simple. In a world of rapidly expanding new buildings and growing mortgage portfolios, the most diverse trends appear to be at work. Mortgage statistics show that not everything is so good in our kingdom and that we have clearly not yet crossed the line where meeting current basic needs will turn into accumulating fat. Surprisingly, this is most clearly illustrated in the case of double tenancy.
Dual tenancy is a situation where the same person and the same family both rent and rent the house. They write that the share of such transactions in the rental market reaches, on average, 20-25 percent throughout the country and 30-40 percent in the capitals. They explain this phenomenon by the increased mobility of the population: today you work in the north of a big city, tomorrow you work in the south, and the day after tomorrow they make you an interesting offer in another region – that is, people move around. But other options are also common. They even seem strange at first glance.
Among other things, it also happens, for example, that people rent and rent housing in the same area, even in the same block, and this happens in the same house. Such patterns are, of course, determined not by geographical factors but by economic factors. A single person, he inherited a three-room apartment from his grandmother, but he cannot and does not want to bear her unsupported care, so he moves to a smaller apartment to save money. Some people, on the contrary, are happily married, have managed to acquire three children, a cat, a dog and a chinchilla, and have only a modest workshop. We need to grow, but the studio’s loan hasn’t been paid yet. Should I buy a new one? Is this at current very high rates? Not everyone can pull this off. Therefore, the family is looking for alternative options through rental.
Yes, if we talk about family members, a temporary solution to the housing problem is becoming an increasingly popular option.
This plan also has its own philosophy. From the abstract – they say, we are all just guests on earth and there is no point in overgrowing with various mortal things, until it becomes practical – children grow, mature and fly in different directions, and for parents in old age and a studio, the mortgage will be closed by then. Yes, it is interesting that the latter is still combined in society with the idea that parents are obliged to provide separate housing for each of their children.
But the idea of u200bu200bthe inevitable parental duty, expressed in the idea of u200bu200bproviding adult children with start-up capital in the form of square meters (by the way, an extremely annoying idea for the average person who cannot earn millions), seems to collapse. This philosophy was aggressively promoted in society five to ten years ago. There was even this ad: “If you want grandchildren, buy an apartment for your children.” But as confirmed for the thousandth time, nothing in this world lasts forever, the economic situation has changed, trends have also changed. Of course, there are still the last of the Mohicans tearing at the seams, paying off mortgage after mortgage so they can give their adult children at least a studio, but they are somehow wary of shaming those who don’t follow their ideas anyway. example: why not, they can handle it, it will be weird.
And new mortgage statistics show desperate success strategies for the benefit of children have increasingly less chance of success. Although the volume of mortgage issuance is increasing (last year, banks issued 1.5 times more mortgage loans than in 2022) and the demand for new buildings is reaching unknown levels (increased by 60% in January of this year) Many other data show that housing shows that it is actually becoming less affordable. As a result, while the average maturity of the loan is increasing, the average area of the purchased apartments is, on the contrary, decreasing.
If five years ago the average length of a mortgage was 16 years, now it is 25. While the average square meter of an apartment purchased with a loan five years ago was 55 square meters, it has now dropped to 44. speeds and volumes do not guarantee children’s future – You cannot stay here without a roof over your head.
In general terms, everything seems to be going in the direction that the number of people renting houses will increase in our country, as in Europe. And we are talking not only about careless youth, but also about family members. Another thing is that the consciousness of the Russian person is structured in such a way that it is painful to accept such a situation. Well it hurts! We live in a cold northern country, a country with not only an unpredictable future but also a past. The soul of a Russian person requires that at least something remains constant, at least something is called “mine”, so that at least something can always be disposed of if something happens. Therefore, at least 15 meters of concrete on the property, if there is no more, so be it. And despite all the assurances that all of Europe was filming and nothing was happening, our man can only chuckle. Europe continues to rent for up to 45 years and immediately pays off the loan for the country house for the next 20 years. What do we have at 45? Many are already at the end of their careers! Here at 30, if you don’t have to worry about a mortgage, you can generally stay under the bridge.
Therefore, Western trends will of course continue to penetrate us further. But with its features. Our people will increasingly rent housing, but will also purchase their own housing. It seems that the same music awaits our children, too. At 20, they will leave the nest, rent a studio outside the city with friends, at 25, they will mortgage the same studio, at 30, they will have their children and start renting a larger residence. At 40 they will refinance, grow a little, but again only for yourself. Inevitable fate. I feel sorry for them. But what to do? Lying with bones for their sake, fertilizing their future? Someone will do just that, sacrifice themselves. For most people, this sacrifice would be beyond their ability even if they wanted to.
We can hope that our children will somehow cope with this situation, because they are better, smarter and more enterprising than we are. The philosophy still remains valid: the child is a guest in your home, feed, teach and leave to mortgage, spin this Ferris wheel of adult life. But everything can always change. When real estate prices collapse and mortgage rates drop to 5%, we can once again shout about how parents have to make trouble for their growing children. Everything is so changeable in this world.
The author expresses his personal opinion, which may not coincide with the position of the editors.