MacroShares, the name behind a series of paired exchange traded funds (ETFs) tied to the price of oil, is now going to get into real estate.
S&P said it has now licensed MacroMarkets to create products based on the Case-Shiller Home Price Indexes. The S&P/Case Shiller Home Price Indices are based upon the Case-Shiller Composite 10 Home Price Index and will begin trading on the NYSE Arca this Fall.
ETF Express reports that the Case-Shiller Home Price Index is aimed at tracking the price path of single family homes using the repeat sales technique developed by Karl Case and Robert Shiller. The index is weighted in 10 metropolitan areas throughout the U.S. and includes Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, New York (commuter index), San Diego, San Francisco and Washington, D.C.
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