There is a baseline of people who need/want to live in the right size home, but unfortunately for them they either have to rent that home or wait until prices fall enough for them to afford the purchase. Emotions have a lot to do with the housing market (just look at the way up!), but emotions will not qualify you for a loan, nor provide a down payment. At the base of everything lies the economics, and that is what this site is about.
We look at the data and then predict the most likely scenario based on that data. Sure, there are a million things that could happen, but the best we can do is look at the data we have and go from there.