A logical case but the vast majority of your assumptions are wrong. Most owners fall in the first two categories not the last one. As for demand, you are also off the mark. Regardless of whether the net population is growing, there are tons of professional families relocating here every day. many cant/dont want to buy because of pricing or not knowing how long they will stay.

Your assumptions are typically swayed by your negative attitude. If you kept a more open mind and werent so negative you would do better by trying to understand reality which lies in the middle of your extreme views.