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

Abstract

Housing is a complex phenomenon with social, economic and political dimensions. Homeownership is seen as a way of coming of age and gaining independence in most modern societies (Forrest and Yip, 2012). It is also a means of money transfers in the family via which the elderly members of the family support younger members for the accumulation of wealth. The aggregate accumulation of wealth through homeownership had been substantial also as a form of special insurance against numerous risks such as unemployment or poverty in the past (Roland and Lennartz, 2019).