MarketWatch is reporting that MacroShares Housing Depositor LLC today filed an amended prospectus with the Securities and Exchange Commission to offer exchange-traded securities linked to the movement of U.S. home prices. The securities will be listed on NYSE/Arca following their planned initial public offering.
"MacroShares Major Metro Housing will provide investors with much needed access to the housing asset class, allowing for investment in either the upward or downward movement of home prices. The securities are designed to track the change in U.S. Home Prices as measured by the closely-followed S&P/Case-Shiller Composite-10 Home Price Index through the termination date. The paired securities will have a ten-year term and will feature a 2x (200%) leverage factor."
Altos Research sees a November 3, 2008 launch date.
SeekingAlpha likes this new product. They look at housing portfolio allocation.
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