The New York Times | "Suppose there were a way to pump up the economy, reduce inequality, and put an end to destructive housing bubbles like the one that contributed to the Great Recession." Discusses recent paper by economists Edward Glaeser of Harvard and Joe Gyourko at the Wharton School of the University of Pennsylvania, which reviews the basic economics and functioning of the U.S. housing market "to better understand the impacts on home prices, household wealth, and the spatial distribution of people across markets."
Also cites research by Daniel Shoag (Ph.D. '11), Associate Professor of Public Policy at Harvard, and Peter Ganong of the University of Chicago, on the role of housing prices in limiting the ability of low-income workers to migrate to higher-wage areas, thereby contributing income inequality.