Right, so how could they be responsible for pushing up housing prices if most are renting?
Gosh, I don't know. Maybe housing prices and market rents are like... related somehow?
Could you flesh out your point instead of simply repeating it?
The sale price of a house is always going to be capped by how much you could make instead by renting it. If the average rental makes $45K a year nobody would sell that house for $250K.
In general, the more you can rent a property for... the more you can sell it for.