Welcome to this forum on home price index derivatives. I’m John H. Dolan, the independent market maker for the S&P Case Shiller (home price index) futures that are traded on the CME. My goal is to use this site to facilitate greater discussion of, and better understanding by academics, regulators, policy makers, rating agencies, traders
and all interested parties in housing transactions (e.g. buyers, sellers, lenders, MBA, NAR), in the markets for home price index products, how they can be traded, and how to interpret observed market prices.
In particular I’d like to have the press focus more on forward expectations (instead of just reporting on historical data). That is particularly true in this "Covid" market, as reviewing referencing closes before March 1 (i.e. the April release) will do little to help see what users think might lie ahead.
Further, I’ve launched an OTC trading of other home price indices (see HPHF page), to include areas not covered by CME Case Shiller futures contracts, or more geographically smaller regions (e.g. Minneapolis, Dallas, Salt Lake)
Please feel free to email me with questions or suggestions (use "Get in Touch" button below. You can join the discussion on LinkedIn (the “CME Case Shiller Home Price Futures” group), and/or sign up for Twitter updates (mostly on trade notices) at @HomePriceFuture.
My hope is that greater awareness and more contributions from other traders, and a willingness by traders and hedgers to dabble in these products, that better liquidity will evolve for futures on this critically important financial market.
In my mind, these markets should be viewed as a community effort where opinions can be expressed and debated. Contributions, whether outright orders, spread quotes, or ideas to either side of the debate would be appreciated.