Index based futures and options markets in real estate
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Weiss No , Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Abstract: Most institutional and individual portfolios are very undiversified in real estate: The risk of these concentrated holdings is not hedged. We propose here that cash-settled futures and options markets be opened on real estate to better allow diversification and hedging, and show that these markets solve problems that have hampered other real estate hedging media in the past.
Related institutions, such as home equity insurance, might develop around the futures and options markets. The establishment of these markets is likely to increase the quantity of reproducible real estate, and lower rents on real estate.
It may also reduce the amplitude of speculative real estate price movements and dampen the business cycle. Real estate ; prices ; portfolio choice search for similar items in EconPapers JEL-codes: G11 L85 search for similar items in EconPapers Date: View references in EconPapers View complete reference list from CitEc Citations View citations in EconPapers 22 Track citations by RSS feed Downloads: This item may be available elsewhere in EconPapers: Search for items with the same title.
Dow Jones Real Estate Futures Quotes - CME Group
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ProShares ETFs: Short Real Estate - Overview
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Index-Based Futures and Options Markets in Real Estate Karl Case , Robert Shiller Obfuscate 'yale.