If all the jabbering about a weakening housing market has made you glum at the prospect of your own home's losing value, then has the Chicago Mercantile Exchange got a portfolio addition for you. Since May, investors have been able to buy and trade options and futures contracts pegged to home prices in 10 U.S. cities, giving property owners a way to hedge against a bear market--and letting speculators place bets on the direction of house prices in San Francisco, New York City, Chicago, Las Vegas and elsewhere.
Think of a guy who is anxious that his hacienda in Miami might...
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