Last May I attended a talk by Yale economist Robert Shiller in which he indicated that his company, MacroMarkets, was seeking SEC approval for a derivative product tied to home prices. Finally, this week the new “housing ETFs” are available. What are they about, and who should buy them?
For a couple of decades, Robert Shiller has wanted to invent a way to indirectly invest in residential real estate. Knowing that such a security would need to be linked to a housing market index, he and Wellesley College economist Karl Case developed the Case-Shiller indices, which have become widely-recognized …Read More