Booming Houston ecomony boosting housing market

[Chuck Redman]

This was on our local new last night. What they failed to tell people was that the "buyers" are Hedge Funds.

http://abclocal.go.com/ktrk/story?section=news/consumer&id=9008271

So this brings me to wonder what economical impact this is going to have in the near future? Is the market being flooded with rental property by the hedge funds going to drive rental rates down? Are we headed for a sharp increase in purchase prices? Is inflation on the horizon?