I was referring to the sheer number of people being born. Even if the growth rate is declining, it's still a lot of ever growing number of people looking for housing.
The sheer number of people being born also has to be compared to the sheer number of people dying. The growth curve is leveling off quickly, and there is still a lot of space left.
You have bigger fish to fry if growth goes negative. If you think that's going to be the case soon in your country, maybe retirement homes would be a wiser investment.