I'd start with, and probably end there.
I have been following Mr. Shiller work since he released his now famous S&P/Shiller Housing Index.
His Index and the CME helped to create the first US housing derivatives market.
So you can buy a house and buy puts to protect your house in this downtrend cycle.
Also, in the future you can invest in US housing without really buying a house, if you buy calls for example.
"Recent Trends in House Prices and Homeownership"
Presented by Robert Shiller, MacroMarkets' Chief Economist
Federal Reserve Jackson Hole Symposium
August 31, 2007
asd