The Economic Implications of Housing Supply. Edward Glaeser, January 4, 2017, Paper, “Housing is both an investment and consumption good. Its production is almost prosaic in its use of simple resources like lumber, yet its financing involves trillions of dollars in mortgages that were central to the recent global financial crisis. As different as a two-by-four may be from a complex collateralized mortgage-back security, the simple fundamentals of housing supply are central to understanding housing markets, the securities that are tied to them, and America’s economic geography.Link