A Critical Analysis of Housing Affordability Literature: Turkish Housing Experience

Abstract

Measuring housing affordability is a key challenge for most communities. Housing affordability has often been described as the ratio of household incomes to housing expenditures. However, in the affordability literature, “housing expenditures” are still under discussion. This article introduces the concept of “lifetime affordability” to describe the affordability of households during the housing life cycle period considering the complexity of determining realistic housing affordability. The concept will be explained through the Turkish housing experience.