The Global Housing Crisis

Under the high inflationary period and high interest rate market conditions, financing became extremely difficult for homebuilders and homebuyers. The land is expensive, construction costs are high, and the wages are not satisfactory enough to afford a house. Due to increased prices, the renting or buying dilemma is not even the case for millions of people. Unfortunately, bank loan-dependent financing is unable to provide a sustainable solution to the industry's boom and bust cyclical nature.

This book introduces a sustainable new home financing model by creating an investment and financing ecosystem that integrates real estate capital market instruments with pension funds. The model proposed in the book shifts the mindsets from a conventional bank loan-oriented housing financing system to an interest-free collective and cooperative approach. The practical implications of the model are discussed, mainly in terms of how the model could increase affordability in the housing sector. The book will be of interest to researchers, policymakers, regulators, practitioners, and government agencies related to real estate investments, pension funds, and capital markets.

Offers a sustainable home financing model independent from bank loans Integrates pension funds, real estate investment funds, and diminishing partnership in one investment Underlines the importance of the industry's digitalization from a tokenization perspective

Auteur

Levent Sümer is a strategist, author, and scholar. He is the Chairman of SMR Strategy, an international investment and management consultancy company, and teaches at Böaziçi University in the Executive MBA and CEM Programs. He is also an investment committee member in different real estate investment funds. His studies mainly propose alternative sustainable economic and financial systems to replace flawed capitalism.

Contenu

1. From Lehman Brothers to Evergrande: Is Another Housing Crisis on its Way?.- 2. The Psychology of Homeownership: Does Owning a House Really Matter?.- 3. Housing Market Dynamics: Understanding the Recent Global Trends and Threats.- 4. Lessons (not) Learned Fom Past Housing Bubbles & Crises.- 5. How Do We Create a Housing Affordability Crisis: Türkiye Case.- 6. Housing Financing Models, Schemes and Policies: Global Practices.- 7. Time to Change the Rules of the Game: Introducing a Sustainable Home Financing Model.- 8. What the Future Holds: The Roadmap for a Sustainable Housing Industry.