The Political Economy of Housing

The Case of Turkey


In The Political Economy of Housing: The Case of Turkey, Sila Demirors explores the analytical and historical process of how housing, a special use-value and social relation, which is crucial for the social reproduction of labour-power, becomes an instrument of speculative finance to feed itself. While the second part of the book discusses the political economy of housing in Turkey, in which housing has been used by the state as both a political project and a macroeconomic tool for the last two decades, the first part of the book formulates a methodological and theoretical framework to provide a comprehensive approach for comparative housing research from a Marxist political economy perspective.

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Sila Demirors, Ph.D. (1988), Ankara Yildirim Beyazit University, is Assistant Professor of Political Science and Public Administration at that university. She received her Ph.D. from the Development Studies at SOAS, University of London.

List of Figures and Tables

Acronyms and Abbreviations

1General Introduction and Methodology
 1 What Is This Book About?

 2 Background

 3 Analytical Framework and Methodology

 4 An Intermediate (Operational) Methodology: from ‘Structures of Housing Provision’ to ‘Systems of Provision’
 4.1 Structures of Housing Provision Approach

 4.2 Systems of Provision Approach

 5 Data Collection

 6 The Structure of the Book

2Ground Rent and Housing
 1 Marx’s Theory of Agricultural Rent
 1.1 Differential Rent

 1.2 Absolute Rent

 1.3 Monopoly Rent

 2 Ground Rent in Urban Land

 3 Ground Rent in Urban Residential Land

 4 Scarcity, Monopoly Rent and Housing

 5 Ground Rent and Housing Sub-markets

 6 Housing, Ground Rent and Capital Accumulation
 6.1 Localised Monopoly Rent (Development Gains) vs. General Monopoly Rent

 7 Conclusion

3A Theoretical Investigation for Financialisation with a Focus on Financialisation of Housing Provision
 1 Financialisation: an Explanandum or Explanans?
 1.1 Analytical: Understanding Financialisation through Marx’s Theory of Money and Finance

 1.2 Historical: Thinking Financialisation within and through Neoliberalism

 1.3 Uneven and Combined Development of Financialisation

 2 Intensive and Extensive Expansion of Finance
 2.1 Financialisation of Social Reproduction

 3 Financialisation of Housing
 3.1 Housing Development Finance

 3.2 House Purchase Finance

 3.3 Social Housing

 4 Conclusion

4Neoliberal Transformation and Financialisation in Turkey through an Authoritarian Form of State
 1 Capitalist State as the Condensation of Class Relationship

 2 The Transition to Neoliberalism and Financialisation in Turkey: from 1980 to 2001

 3 The Consolidation and Institutionalisation of Neoliberalism and Financialisation in Turkey: Post-2001 Period

 4 Conclusion

5Housing Provision in Turkey — a Historical Overview
 1 1950–1980: Housing SoP under isi

 2 1980–2001: Housing SoP in the Early Phase of Neoliberalism

 3 Conclusion

6State in Housing Provision
 1  toki as a Particular Articulation of Political and Economic Intervention

 2 Land

 3 Planning

 4 Housing Provision: Is toki a Robin Hood or an Unrivalled Monopoly?

 5 Emlak Konut reit

 6 Finance of toki

 7 Urban Transformation: from Slum Upgrading to Mass Regeneration

 8 Conclusion

7Consumption of Housing
 1 Housing Purchase Finance and Mortgage Boom?

 2 Two Sides of the Same Coin: Financial Inclusion and Exclusion

 3 Alternative Searches for Further Financial Inclusion: a Shadow Banking-System in Turkey

 4 Effective Demand in Housing

 5 Residential Land and House Price Inflation

 6 Housing as a Speculative Investment Tool: Consumption of Housing for the Appropriation of Monopoly Rents

 7 Housing Inequality: Wealth Effect and Crisis of Social Reproduction

 8 Conclusion

8Production of Housing
 1 A Bird’s Eye Shot to the Housing Supply-Side Dynamics in the Post-2002 Era

 2 Housing Developers and Housing Production Process

 3 Housing Development Finance

 4 The Volume of Housing Production and Housing Stock

 5 Construction Move: a Political Project and a Macroeconomic Tool

 6 Conclusion


Appendix 1 Interview Schedule and Codes

Appendix 2 Distribution of Non-institutional Population by Equivalised Household Disposable Median Income Groups and Housing Living Conditions Indicators (2006–2018)

Appendix 3 Divergence between Construction Costs and House Prices in Turkey (June 2016–September 2018)



All interested in the housing studies, neoliberalism and financialisation, Marxist political economy and Turkey’s political economy.
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