I believe there is a very good chance that many of these futures markets will soon be predicting substantial price declines in some US cities over the next year. They will be in what traders call “backwardation”: the future price in the market today is lower than the price of a home today.
我相信，众多上述期货市场将预言来年美国一些城市的住房价格会大幅下降。这就是交易人所谓的“现货升水”，那就是，今天市场上期货的价格低于今天住房的实际价格。或许现货升水不会在房产期货交易的第一天就出现，但几个月之内出现的可能性非常大。