His logic is almost right, but wrong enough to be dangerous.
It isnt the number of sellers who don’t have to sell that matters. It is the number of sellers who do have to sell.
i.e. Look at the supply, not the lack of supply.
You never hear anyone say “how many widgets are not in production”
Secondly, it is the supply relative to the number of buyers, not the supply relative to the number of houses.
