Do you see Hedge Funds still buying?

[Sebastien Hitier]

There was a lot of talk about Hedge Funds entering the residential rental space in 2013. Hedge Funds are the canary in the coal mine, I would expect to see their buying stop once the middle class has rebuilt its credit and starts buying again.

Do you see hedge funds still buying in your area and at what price? (Hedge Funds first bought properties below 100k, then they went for properties below 150k. Is it still the case?)

[Chris Seveney]

@Sebastien Hitier We are seeing more and more companies jumping on the real estate bandwagon because they are flush with cash and looking for a place to put their money to hedge inflation and that is exactly what real estate does.