The Political Economy of Housing

Acknowledgements List of Figures and Tables Acronyms and Abbreviations 1 General 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 2 Ground 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 3 A 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 4 Neoliberal 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 5 Housing 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 6 State 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 7 Consumption 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 8 Production 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 9 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) Bibliography Index