WASHINGTON, DC (April 28, 2009) - Robert Shiller, Yale economist and co-creator of the Case Shiller Indices of U.S. home prices, will announce the launch of the new private enterprise company, MacroMarkets, LLC at this year's Builder 100 Conference held in Chicago, IL. Shiller is a founder and the chief economist of the New Jersey based firm that issues the Case-Shiller Index with Standard & Poor's.
"We want to get some liquidity into the market for single-family housing, which it so desperately needs right now," said Dr. Shiller in an exclusive interview with HousingCrisis.com. MacroMarkets holds patents for a novel securities structure called MACROS, which can be applied to any asset class that can be reliably indexed. In May 2006, MacroMarkets launched Housing Futures and Options, the first exchange-traded financial products for directly investing in and hedging U.S. housing.
MacroShares Major Metro Housing Up (NYSE: UMM) and MacroShares Major Metro Housing (NYSE:DMM) EFTs are designed to deliver 300% of the return (up and down) of the S&P/Case-Shiller Composite 10 House Price Index, which measures the average price of a house in 10 major metropolitan markets.
Robert Shiller is a featured speaker at the Builder 100 Conference on May 13, 2009 held this year in Chicago discussing the past, present and future of the housing industry in detail, along with plans for MacroMarkets.
To learn more about the Builder 100 Conference or to register, visit www.builder100.com.