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Talk of the Bay
Place your bets on housing price swings
By HELEN HUNTLEY
Published June 12, 2006
Traders who want to speculate on hot-to-handle real estate markets in Los Angeles and Miami can do it without buying property. The Chicago Mercantile Exchange recently began trading futures contracts on home resale prices. The contracts are based on indexes tracking prices in 10 major metro areas, including Miami, New York, Chicago, Las Vegas and Los Angeles. There's also a 10-city composite contract. Futures trading is risky business, so most of those buying and selling the contracts are expected to be institutions such as pension funds. But if the contracts are a hit, it might not be too long before there's a mutual fund based on them.
[Last modified June 12, 2006, 06:25:46]
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