LAND, REAL ESTATE AND HOUSING PRİCES IN ASSET PRİCES CHANNEL

Abstract

Stock and housing markets located in asset prices channel have affected by Turkey's economic conjuncture and the crises on the world economy. Especially in developing countries, the land, real estate, and housing market, which is considered as a means of wealth storage and covers the majority of private sector investments, is easily affected by the economic conjuncture. The lack of a variety of investment instruments leads to the transformation of the house into an investment instrument, an increase in house prices and a speculative approach to housing. The main purpose of this study described the role of land, real estate, and housing prices, which are located in the monetary transmission mechanism, on the economy. Furthermore, İt has been investigated the effects of the economic crisis on the housing market, and also examined the changes in house prices in Turkey after the currency crisis of 2018.