I don't think housing will be affected the way you think it'll be affected.

Hedge funds are buying lots of real estate, Single Family Homes included [0] [1] [2]

It's a flight to safety, and with jobs moving to cities, millennial preferences with them, and restrictive zoning/NIMBY, real estate is the perfect landing place.

[0] http://www.motherjones.com/politics/2013/11/wall-street-buyi...

[1] http://dealbook.nytimes.com/2014/06/27/investors-who-bought-...

[2] https://newrepublic.com/article/112395/wall-street-hedge-fun...