Structured products for housing markets?

Is there a way to create a financial product to allow investors to invest in houses with no downside risks?

Ie. a call option on house prices, etc...

 

I'm sure someone would be happy to structure a principal protected note using the case/shiller index - though you might not be happy with it.

...then you still have credit risk, so kind of, but effectively probably not very practical imo (unless you're doing the selling).

 

No, physically you want to buy a house and want its principal to be protected... is it possible?

 

Legally, not that I'm aware of.

 

Yes. Don't sell the house.

 

In those principal protected note,

you need a zero coupon bond,

but most high grade bonds are very low yield, which means the present value is too high ...

how do you structure a good deal using such bonds?