By: David Leonhardt: REALTOR® Magazine Online
HedgeStreet is an online betting site that enables investors to take a gamble on the direction of home prices in several cities across the country.
The site tracks prices using the average price as reported by the NATIONAL ASSOCIATION OF REALTORS®.
Despite forecasts of a housing slowdown, HedgeStreet's investors expect third-quarter home prices to shoot up 7 percent in Los Angeles, 5 percent in San Diego, and 2 percent in New York City.
HedgeStreet's founders believe a larger, independent, and more diverse betting market would allow homeowners to hedge against the risk of falling home prices.
Tuesday, August 23, 2005
Online Bettors See More Home Price Gains
