MORTGAGE MARKET: OPPORTUNITIES AND RISKS OF ACTIVATING DEVELOPMENT DURING THE POST-WAR RECOVERY PERIOD
DOI:
https://doi.org/10.32689/2523-4536/78-13Keywords:
mortgage market, mortgage lending, mortgage, opportunities, risks, post-war recovery, development activationAbstract
The article examines the state of the mortgage market and mortgage lending trends in the pre-war and war periods, reveals the problems and factors that caused them, in particular, it is noted that the economy of Ukraine, due to the military invasion of the aggressor country, is characterized by instability and significant challenges, which had a devastating impact on mortgage lending and the mortgage market. The opportunities, risks and threats of using mortgages, the mortgage market and lending during the post-war recovery period were identified and, on this basis, a set of necessary state measures was developed to activate the development of the mortgage market, which includes: introducing state support programs, providing guarantees for mortgage loans through the creation of state funds, simplifying the procedure for obtaining a mortgage, reducing bureaucratic barriers, facilitating the process of assessing real estate and preparing documents, investing in the development of infrastructure in regions affected by the war, creating favorable conditions for attracting foreign investors, increasing financial literacy, conducting information campaigns for the population about mortgage lending opportunities, updating legislation to protect the rights of debtors, including debt restructuring mechanisms in the event of financial difficulties, encouraging banks to develop new products that meet the needs of the population, stimulating the construction of social housing and affordable housing complexes to provide a wide range of opportunities for the population. It was emphasized that the implementation of the proposed measures will contribute to the intensification of the development of the mortgage market, improve the lives of the population, increase the availability of housing and stimulate the recovery and economic growth of the country, which will generate numerous benefits for the state, banks and the population in the post-war period. That is, in the period of post-war recovery, the state needs to use new opportunities and take into account the risks of the development of mortgage lending and the market, which will contribute to: social stability in the country, reducing social tension, restoring communities, developing the construction and related industries and increasing demand for building materials and services.
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