This appears to be a couple of months old, but I've just discovered Opromark, a company which appears to allow investors to buy shares in specific houses, and trade them like stocks on the Opromark exchange.
A few thoughts:
- One might ask, "what does this accomplish that REIT's don't?". Well, REIT prices are largely functions of their dividend yield, which keeps prices in check. A market like this will allow for the wild swings in prices that investors are clamoring for.
- One of the problems with housing, is the high-barriers to entry (althought they've been lowering them lately). You need credit, a down payment, work history, etc. This takes that problem away.
- There goes the whole argument "Well at least you can live in a house if the price evaporates, unlike a share of CMGI". I wonder what they'll do when 1000 co-owners start fighting about who gets "the big room".
The end must be near.
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