This is Robert Shiller a couple of years ago on the kind of product you're looking for - doesn't seem to have caught on in the US yet, so looks like your hopes are dashed!
The company you started, MacroMarkets, just got approval for tradable securities linked to the Case-Shiller house-price index. How does that factor in?
One reason we have bubbles in the housing market is because there's been no way to short housing [that is, to make money when prices fall]. The ability to short is essential to an efficient market, otherwise there's nothing to stop zealots from pricing things abnormally high. If you buy one of these long securities, called UMM, it's like buying a house, except you don't have to go through the real estate agent, take possession of a property, maintain it, rent it out. But we also have the DMM, which is short housing. Markets like this will also create an infrastructure for products. For example, insurers could issue home-equity insurance and then hedge themselves by taking a position in this market.
The Case-Shiller housing futures that trade on the Chicago Mercantile Exchange haven't really taken off, though.
I know. It's bizarre. People are fascinated by housing they want to read the home section of the newspaper and gossip about it. But they don't seem to want to trade it. I think it's all a matter of getting it right. And we continue to work on it. It's like insurance. They invented life insurance in the 1600s, but it didn't become common until the 20th century.
Read more: http://www.time.com/...l#ixzz1GVleh0gB