that tracks national residential housing prices via his Case-Schiller
housing index. There are already futures and options contracts on
individual housing markets (but the contracts are quite large ~$75k). The
initial public offering will be May 11th. The ETF is triple leveraged based
on CUMULATIVE change in the residential housing index, whereas SRS is double
leveraged based on the DAILY changes in the commercial real estate index.
Even though housing is still 20 percent overvalued vis-à-vis rents,
inflation could cause house prices and/or rents to rise. There are also
issues with the way the index is computed and revised.
More info: http://www.macromarkets.com/macroshares/housing.asp
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