Housing Uncertainty: Socio-economic Inequality and Forex Loans Trajectories in the Bosnian Housing Market

Q2 Social Sciences

Critical Housing Analysis Pub Date : 2022-01-01 DOI:10.13060/23362839.2022.9.1.544

Zaira Lofranco

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引用次数: 0

Abstract

This article explores the nexus between the financialisation of housing and socio-economic inequality in Bosnia and Herzegovina (BiH). In this context, since the post-war economic reforms, driven by deindustrialisation, the precarisation of labour, and dependent financialisation, housing loans have become a ‘privilege’ for a restricted group of people with high and stable incomes. Instead, the housing aspirations of Bosnians are generally met with the aid of consumer loans and the ostensibly cheaper FX loans that were introduced in the mid-2000s. Drawing on quantitative and qualitative data, this paper highlights the enduring features of the polarised credit market in BiH. It particularly focuses on the period after the 2008 crisis when lending policies were only mildly re-regulated. FX loans never became the object of an ad hoc law to convert them to Bosnian convertible marks. This institutional approach has been unable to challenge the extreme class segmentation of housing finance and is still fostering indebtedness and precarious housing conditions among the lower-income segments of Bosnian society even after the pandemic.

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住房不确定性:波斯尼亚住房市场的社会经济不平等和外汇贷款轨迹

本文探讨了波斯尼亚和黑塞哥维那(BiH)住房金融化与社会经济不平等之间的关系。在这种背景下，自战后经济改革以来，在去工业化、劳动力不稳定和依赖金融化的推动下，住房贷款已成为拥有高稳定收入的有限群体的“特权”。相反，波斯尼亚人的住房愿望通常是在消费贷款和2005年前后推出的表面上更便宜的外汇贷款的帮助下实现的。利用定量和定性数据，本文强调了波黑两极分化信贷市场的持久特征。它特别关注2008年危机后的一段时期，当时贷款政策只得到了温和的重新监管。外汇贷款从未成为将其转换为波斯尼亚可兑换马克的特别法律的对象。这种体制办法无法挑战住房资金的极端阶级划分，即使在大流行病之后，仍在助长波斯尼亚社会较低收入阶层的负债和不稳定的住房条件。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Critical Housing Analysis Social Sciences-Sociology and Political Science

CiteScore

2.70

自引率

0.00%

发文量

期刊介绍： Critical Housing Analysis is a peer-reviewed academic journal focusing on critical and innovative housing research. The journal was launched in January 2014 and publishes two online issues annually. Critical Housing Analysis is published by the Institute of Sociology of the Czech Academy of Sciences. Critical Housing Analysis aims to provide on-line discussion space for researchers who come up with innovative, critical and challenging ideas and approaches in housing-related research. The unique function of this journal is to facilitate rapid feedback on critical and innovative ideas and methods developed by housing researchers around the world. We are especially keen to publish papers that provide: 1.Innovations in methods, theories and practices used in housing-related research. We especially welcome papers applying original research strategies (such as, mixed and interdisciplinary methods) and international comparisons with a strong sense for contextual and institutional differences. Papers should provide new and fresh research perspectives allowing a deeper understanding of housing markets, policies and systems. Innovations need to be justified but they could be “work in progress”, i.e. their findings may not yet have been fully verified. 2.Critiques of assumptions, methods and theories used in housing-related research. Such critical evaluations must be well-founded (empirically or by consistently logical argument) and convincing. However, there is no particular need to provide a solution to the problems that have been identified. 3.Critiques of applied housing practices and policies in particular cultural and institutional contexts, especially for those countries that are less represented in mainstream housing policy discourse. The critical assessment of policies must be analytical, should propose new perspectives and lead to wider policy implications.