Building and Loan Societies as One of the Main Ways of Solving the Housing Problem in Russia
This article is concerned with the housing problem, which nowadays is considered to be one of the most significant for the Russian population. Building and loan societies may become an important tool in solving this problem. Building and loan societies are designed to attract target housing savings and offer financial services, especially loans for purchase, construction, reconstruction of buildings for housing, as well as purchase of land for the construction of lowrise residential buildings. The main characteristic of functioning of the building and loan societies as nonbanking institutions should become the state support.