What Can We Learn from Housing Futures?

Abstract:     
Futures on the S&P/Case-Shiller home price indices began trading in May 2006. Liquidity was reasonable at first but then dried up. Nonetheless, there is a lot that can be learned from the experience, particularly as it includes the early to mid stages of the crisis.

We can get insights helpful both for understanding the housing futures market in particular and for insights into the housing market over all – a topic of great importance to the economy and financial markets today.

Number of Pages in PDF File: 8

Keywords: housing, futures, Case-Shiller, derivatives, crisis

JEL Classification: G10, R31, G13, E44

working papers series