[Vexs]

You're absolutely correct; I quoted a gross oversimplification of the theory. It's more to do with per generation than actual old people, and people are always protective of home value.

Consider, however, that when an elderly person dies their assets,in this case houses, are usually sold off, which might be enough for a builder. It's not the core tenant of my argument, but it's something I'd never thought of before.