FINANCIALIZATION OF HOUSING AND MORTGAGE DEBT REPAYMENT STRATEGIES OF HOUSEHOLDS IN TURKEY

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dc.authoridASLAN, AHMET SUVAR/0000-0001-6472-9990
dc.contributor.authorAslan, Ahmet Suvar
dc.date.accessioned2024-09-18T20:32:57Z
dc.date.available2024-09-18T20:32:57Z
dc.date.issued2021
dc.departmentHatay Mustafa Kemal Üniversitesien_US
dc.description.abstractHousing is a complex phenomenon with social, economic and political dimensions. It is also an expensive fixed asset that can be used and consumed for centuries. Due to the considerable amount of capital required for the realization of housing projects, a mutually supportive relationship is established between the finance and the housing sectors. Mortgage loans are the major tools provided by financial institutions to households for acquisition of housing. On the other hand, mortgage loans usually constitute the largest debt item of a family and are highly effective on the organization of their everyday lives as they are given on their future incomes. Given the increasing trend in the use of mortgages by households in Turkey since 2007, when mortgage law was adopted, this paper offers two key insights. Firstly, based on the historical account of Turkey's housing market, it is argued in the paper that the financialization of space in Turkey is realized through mortgage market expansion, and accordingly the effects of financialization on the housing market is investigated. Secondly, it demonstrates that the financialised housing market in Turkey is highly dependent on family relationships and their financial supports. Research findings also indicate that despite the growth of the mortgage market, owner-occupation has declined in total and use of mortgage was concentrated within the middle income groups. The study was conducted in Istanbul, the largest metropolis of Turkey, using a mixed method approach, and investigated the daily life experiences of mortgage debt owners by combining different sets of data to present a dynamic discussion arena for future studies.en_US
dc.description.sponsorshipYildiz Technical University [2016-03-02-DOP01]en_US
dc.description.sponsorshipThis paper is partly based on the author's Ph.D. dissertation at Yldz Technical University and the research was supported by the Yildiz Technical University [grant number 2016-03-02-DOP01]en_US
dc.identifier.doi10.4305/METU.JFA.2021.2.METUJFA2021/291
dc.identifier.endpage114en_US
dc.identifier.issn0258-5316
dc.identifier.issue2en_US
dc.identifier.startpage91en_US
dc.identifier.urihttps://doi.org/10.4305/METU.JFA.2021.2.METUJFA2021/291
dc.identifier.urihttps://hdl.handle.net/20.500.12483/11232
dc.identifier.volume38en_US
dc.identifier.wosWOS:000750877500006en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherMiddle East Technical Univen_US
dc.relation.ispartofMetu Journal of The Faculty of Architectureen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectMortgage loansen_US
dc.subjecthousing policyen_US
dc.subjectfinancialization of housingen_US
dc.subjectreal estateen_US
dc.subjectTurkeyen_US
dc.titleFINANCIALIZATION OF HOUSING AND MORTGAGE DEBT REPAYMENT STRATEGIES OF HOUSEHOLDS IN TURKEYen_US
dc.typeArticleen_US

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