I live and invest in Cedar Rapids.

Texas (Austin) advantage is that 157 net people are moving in the Metro Plex a day, property values compared to the nation are relatively priced low (except in downtown Austin rapidly approaching California pricing), and we still have LOW INTEREST RATES.  

@Manon Sheiman I don't know where in KC you are looking, probably the metro area but where we invest the schools are all 9 and 10s, huge growth, very reasonable home pricing and rapidly increasing rents. 

In my opinion even if the hedge funds decided to start selling they wouldn't flood the market and sell all at once as it would only devalue their own assests in the process.The inventory increases we are seeing are returning the market to a more healthy supply and demand levels...it is only concerning if it continues to increase at this rapid rate for a long period of time.

So I have been researching areas like Houston and Phoenix and Grand Rapids.  

I could be wrong though, I can see rapid steelers fans doing a lot of bookings.There is a developing area within walking distance of stadiums, casino and major hospital and museums, but half are rehabbed and half are rough.any insight would be helpful!  

Do you expect rapid appreciation in the near future?

Pierce county is growing pretty rapidly given the affordability concerns for much of King County (that is close to the city that is). 

how about grand rapids?

If the property is in an area that has rapidly developed, the H&B future use could be commercial and dirt cost may exceed the cost of the house.