Tuesday, June 24, 2008

Three Papers On Property Derivatives

(Housing Derivatives) S&P published three papers that discuss US housing and commercial real estate derivatives. The housing paper discusses how to investigate taking a long derivatives position in a falling housing market.

S&P Real Estate Indices News & Analysis
What Can We Learn from Housing Futures?

Jonathan Reiss, founder and managing director of Analytical Synthesis LLC, takes a look at the trading of the CME housing futures over the last 2 years. Analytical Synthesis LLC is a market-maker for the housing futures based on the S&P/Case-Shiller indices. View full article.

Downward Stickiness in Prices

Professor Karl E. Case, Katherine Coman and A. Barton Hepburn Professor at Wellesley College, examines home price behavior during market downturns. As co-creator of the S&P/Case-Shiller indices, Professor Case works closely with S&P on the methodology of the home price indices. View full article.

Comparing the Indices Underlying Commercial Real Estate Derivatives

Stephen Gould, Senior Vice President at Vyapar Capital Market Partners LLC, compares the SPCREX indices with NCREIF in the context of their use in property derivatives. View full article.

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