2015•World Scientific handbook in financial economic seriesRequires access
Housing Futures Markets
Jin Wook Choi, Jin Man Lee
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Abstract
Successful housing futures markets can contribute greatly to the stability and growth of the real estate industry. In this chapter, various characteristics of currently existing real estate indices are reviewed and among them, a few indices that are traded as futures contracts are identified and explained. Based on an existing real estate futures contract, classical examples of perfect short and long hedging are presented. This chapter concludes with a discussion on the reasons for the current difficulties faced by housing futures markets and a thought about their future.