High Mortgage Interest Rates Render Home Buying Unjustified

Mohammad Hashem Botshekan, former managing director of Bank Maskan, the state agent bank of the housing sector, calls for single-digit interest rates to help low-income borrowers take out loans for purchasing a house. 
A translation of his write-up in the Persian economic daily Donya-e-Eqtesad follows: 
The loan-to-value ratio is a simple formula that measures the amount of financing used to buy an asset relative to the value of that asset. It also shows how much equity a borrower has in the home they’ve borrowed against, or how much money would be left if they sold the home and paid off the loan. It is calculated by dividing the amount borrowed by the appraised value of the property, expressed as a percentage.
LTV is the inverse of a borrower’s down payment. For example, a borrower who provides a 20% down payment has an LTV of 80%.