the "fewer people" statement doesn't check out, the article linked shows the US population steadily growing by 1-2 million every year. By replacement rate I'm a

the "fewer people" statement doesn't check out, the article linked shows the US population steadily growing by 1-2 million every year. By replacement rate I'm assuming you are referring specifically to the fertility aspect but that's not enough to jump to the "fewer people overall" and "real estate to underperform" conclusions.