Changing modalities of urban redevelopment and housing finance in Turkey: Three mass housing projects in Ankara

Topal, Aylin; Yalman, Galip L.; Çelik, Ö.

doi:10.1080/07352166.2018.1533378

Cited by 21 publications

(10 citation statements)

References 28 publications

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“…The "financialization of housing" literature is prolific, including studies on the financialization of housing in Canada (August and Walks, 2018;Kalman-Lamb, 2017), China (Theurillat et al, 2016;Wu et al, 2020), Germany (Fields and Uffer, 2016), and Belgium (Romainville, 2017), to name a few. Some such studies have found the theory of "financialization of housing" less applicable in peripheral economies such as Brazil (Pereira, 2017), or in places where the state takes a larger role in directing housing finance, such as Turkey (Topal et al, 2019;Yeşilbağ, 2020). Fernandez and Aalbers (2020) refer to these latter two deviations in the financialization of housing as "less financialized market economies" and "state-led market economies," and highlight the flow of real-estate-based revenue to the Global North from the Global South.…”

Section: Critical Political Economy Ground Rent and The Housing Questionmentioning

confidence: 99%

The Housing Question, ground rent theory, and differentiation vs. homogenization

Manning¹

2021

Human Geography

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This essay takes Engels’ The Housing Question as a provocation to (1) apply ground rent theory to housing (something which Engels neglected to do) and (2) investigate Engels’ conflation of housing struggles with the concerns of a “backwards” peasantry. I show that applying Marx’s ground rent theory to housing illuminates aspects of the housing question heretofore unexamined—in particular, the significance of the relationship between landowner and capitalist in housing. I then show that Engels’ dismissal of housing struggles and land-based struggles more broadly is rooted in the specious belief that proletarianization homogenizes people. Engels’ spurious logic nonetheless sets in relief an important connection: I suggest that only through grasping what Cedric Robinson has called racialization or differentiation and what Sylvia Wynter has named nonhomogeneity can we recognize the theoretical and practical centrality of housing and other land-based struggles to revolution and abolition.

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Section: Critical Political Economy Ground Rent and The Housing Questionmentioning

confidence: 99%

The Housing Question, ground rent theory, and differentiation vs. homogenization

Manning¹

2021

Human Geography

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“…Housing did not escape this process: as I shall show in this section, the government introduced a draft of legislative and institutional changes to the housing market, including new financial instruments, regulation, and legislation to expand credit and support the integration of capital flows between financial markets and the housing market (Aslan & Dinçer, 2018;Erol, 2018;Erol & Patel, 2004;Karaçimen & Çelik, 2017;Topal et al, 2019;Yesilbag, 2016). We can interpret these changes as an illustration of Harvey's argument (1982), that crises of overaccumulation in one sector can lead to the switching of capital from the first circuit (production) to the second (built environment investments).…”

Section: The Development Of Housing Financialisation In Turkey: a Response To Crisismentioning

confidence: 99%

“…In the process, land ceases to be a public resource and becomes an asset that is transferred to construction companies. In return, the builder uses that land to produce high-end housing for higher income groups, but also works for 'free' on behalf of the state to construct affordable housing in far more peripheral areas for lower-income groups, or to build lower-income housing on the same development (for example, the North Ankara Project Phase I, see Topal et al, 2019). 12 As one interviewee, an economist, puts it (Interview 4): 'without using public finance resources, land is used as capital for revenue-sharing model' via its privatisation.…”

Section: Capitalizing On Crisis: the Creation Of Creditmentioning

confidence: 99%

The roles of the state in the financialisation of housing in Turkey

Çelik

2021

Housing Studies

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What is the relationship between the state and housing financialisation? Much of the literature describes the state playing a role to promote the regulatory, legislative, and financial conditions needed to allow global financial capital to penetrate land and property markets. I build on these arguments to develop in what ways the state is playing an active role in housing financialisation in Turkey. I suggest that the Turkish national state has deliberately, actively, and forcefully pursued housing financialisation by (i) introducing new legislation; (ii) creating financial frameworks to encourage speculation by domestic and international capital on land and housing as assets (iii) enclosing public land and exploiting informal types of tenure; (iv) assetising land and housing by developing revenue-sharing urban regeneration projects; and (v) using coercive legal and penal force to criminalise informal development, and to quell resistance to state-led regeneration. My conclusions add weight to Christophers' contention that the role of the state needs to be reconceptualised to capture its direct involvement in housing financialisation.

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“…The best term to describe such a system would be a commodified state economy. This mix of state and market is not unique to Iran, as Harvey (Harvey, 1985: 173–174, 2010) discussed it as one scenario for investment in the built environment and is showed in other cases in the region (Topal et al, 2018) and across the so-called Third World (Frieden, 1981; Glinavos, 2008; Hewison, 1988; Newell, 2008). What makes the Iranian economy peculiar in this case is the absence of a functioning public economy to counteract this process.…”

Section: Iranian Capitalism Public Economy and The Housing Sectormentioning

confidence: 99%

Public housing, intersectoral competition, and urban ground rent: Iran’s first public housing program that never was

Farahani¹,

Yousefi

2021

Human Geography

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This paper investigates the structural political economic drivers of the housing market in urban Iran and the ways in which social and economic dynamics of the housing sector are rooted in peculiarities of Iranian capitalism, characterized by a relatively small public economy, low productivity of capital, and an underdeveloped financial system. The paper examines these processes and mechanisms in the light of the illustrative case of the country’s first and largest state-led housing program, the Mehr Housing Program (MHP). The paper argues that the program’s failure is due primarily to the state’s market-oriented approach toward housing. The MHP’s units were sold at their market prices, and the state subsidized the land to the developers with low rent, facilitating investments. Utilizing an intersectoral and multi-scalar analytical framework, we further argue that what drives the investment is absolute ground rent present in the housing sector due to its labor-intensive character. The high level of rent is due to persistently low profitability in the manufacturing sector and, subsequently, excess profits in construction and housing. Thus, rent-seeking investors tend to invest in housing. These peculiarities of the Iranian economy determined the trajectory and the failure of the MHP as a public housing initiative.

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Changing modalities of urban redevelopment and housing finance in Turkey: Three mass housing projects in Ankara

Cited by 21 publications

References 28 publications

The Housing Question, ground rent theory, and differentiation vs. homogenization

The Housing Question, ground rent theory, and differentiation vs. homogenization

The roles of the state in the financialisation of housing in Turkey

Public housing, intersectoral competition, and urban ground rent: Iran’s first public housing program that never was

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