Bailout bill: the Russian way

Today Prime Minister Vladimir Putin announced that the government will spend approx. 100B roubles ($3.5B) on buying back real estate at market value. Putin said that those measures are "fair to both Russian citizens and developers". I think it's the biggest failure since the crisis began. More than a half the required amount ($2B) comes from "ZhKH" fund. It's basically a budget spending category for building and maintenance of utilities, urban structures etc. - i.e. the taxpayers' money. So we're now forced to 'finance' the purchasing the troubled real estate at pre-crisis market value. The government is postponing the unevitable and amplifying the consequences. Just try to imagine the US congress advocating the buyback of overstocked housing inventory. The author of such a proposal would be politically dead within five seconds. But in Russia you can get away with such a trickery - and even improve your approval rating. The situation is exaggerated by the fact that there aren't no oversupply of apartments in Russia. Many families are living in overcrowded apartments and are willing to improve their housing status, but they're unable to pay $3-5-8k per sq.m. for crappy concrete building flats. So instead of finally letting the market do its thing (a.k.a. correct overinflated real estate prices naturally) and improve the availability of housing, the government is setting up an exit route for oligarchs. The bailout for billionaires. Just...great.