To obtain a mortgage, a three-person family in Russia would need a minimum monthly income of 60,000 to 70,000 rubles ($2,500 to $3,000), which accounts for just 20 percent of the population, Ponomaryov said, the paper reported.
"It would be incorrect to link directly the accessibility of housing and mortgages," he said, adding that the state should use subsidies to help make housing more affordable. In the United States, he said, "75 percent of the population can afford to take out a mortgage, and for the rest there is state support, depending on their level of income."
The state could cut housing prices by 20 percent if it provided free land, and providing utilities infrastructure would cut another 30 percent, he said.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.