Originally developed to allow Real Estate holders to hedge their Realty holdings, they also provide a nice new way to look at the Real Estate Market. These funds are derivatives that effectively short Real Estate. When Real estate goes down, these funds go up.  Simple, right. The chart below is from Yahoo Finance.




As you can see, people are bullish on the short position (meaning many people are betting the the value of real estate is going down).

For a Real Time Look go to:

UltraShort Real Estate ProShares