Houllier, who managed Owen during his time at Liverpool, has hinted that he is keen to take the striker to Villa Park in January, with Owen revealing he is unhappy about the lack of first-team opportunities at Old Trafford.
However, referring to Houllier's interest, Ferguson said: "He's wasting his time there. I understand Michael's frustration - he's exactly right - but it's because Berbatov started the season so well, then the international break came. It's difficult.
"We've got this Carling Cup game on Wednesday (at Scunthorpe) and he'll start that. He'll get enough football, Michael. It's just the early season with the internationals that disrupt you - there are four games over two two-week spells now since the start of the season.
"I agree he probably thinks it's passing him by but he's doing well in training, never misses a session. I brought him on for the last 20 minutes the other night but I could have brought on three centre-forwards and we would not have made a chance the way Rangers set out."