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In about two weeks, hedge funds, mortgage lenders and other investors will be able to bet on the future of the U.S. housing market without buying a home.
In about two weeks, hedge funds, mortgage lenders and other investors will be able to bet on the future of the U.S. housing market without buying a home, according to Housing Wire.
RadarLogic, a housing data provider, is introducing a tradable futures contract based on its national composite index that compiles data on home prices in 25 U.S. metropolitan areas. The contracts are slated to be available through the CBOE Futures Exchange after receiving regulatory approval, which is anticipated within the next two weeks.
The product could help bring stability to the housing market and ultimately lower costs for borrowers, said Quinn Eddin, director of research for RadarLogic.
"Right off the bat it's going to be a good indication of where institutional investors see housing prices going," he said in an interview. "In the long run, I think it could make housing more affordable by reducing a lot of the risk that lenders are exposed to when they make mortgage loans."
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