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Another Exchange Joins The Housing Index Party

In Lanser’s column More indexes to bet on [OCR] [1] he announces that there will be house-price indexes offered by the Chicago Board Options Exchange (CBOE) as an alternative to the Chicago Merc’s indexes [2] that will begin trading on April 26th.

This index will be based on the NAR’s price benchmarks. Here are the details [CBOE] [3]. I am a bit surprised that financial instruments would be based on stats provided by a trade group rather than an independent resource.

They are expected to offer a

This is a bit out of my domain but I don’t think this type of trading is a zero-sum game. Does anyone have thoughts on this topic?