International Experience of Economic Financing of Housing Engineering and its Application in Russia

Today there is a huge need in housing in Russia, but the high level of prices makes it tremendously hard of access for the majority of population. The high risk of investment makes the situation even more difficult as well. Searching for the solutions of this problem, we need to study the experience of other countries in housing development finance. The article provides the opportunities of using American methods of mortgage taking into account the availability of proper legislation and official bodies. It also makes a proposal for a mechanism to finance housing development involving local executive authorities and describes their advantages.