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Russia hikes interest rates to 15% as inflation soars
(www.bbc.com)
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this post was submitted on 27 Oct 2023
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I was surprised as well. It would be worth confirming the dates from a second source, but there are some ready possible explanations for it as well. It could show a large number of multigenerational households. It could relate to the distribution of the population in high and low cost areas (rural vs urban likely). So it does seem high, but not impossible.
Cheers!
Another large factor is that it was communism up until relatively recently. Meaning wealth was largely evenly distributed outside the very top of the party. Not that people were well off, but far more equal than we are in the west. And while the oligarchs have an extremely outsized percentage of all Russian wealth buying real estate would make little sense in Russia, that would 1) put their position in Russia in danger by painting a target on them 2) a horrible hedge given Russia isn't the most stable economy. In total I think 90% sounds extremely reasonable. Though the average house standard is of course far lower than say Germany.
That seems reasonable. I also think it stems from my idea of ownership being a standalone house, and didn't include things like owned apartments, flats, condos, etc that would make up a large state of ownership in big cities.