“We are seeing right now in NJ and NY why homes need to be replaced on average every 75 years. They burn down get flooded, etc.”
Actually the census showed why homes in NY & NJ don’t need to be replaced at all; we both lost electoral votes as our “legal” population falls, and only give the illusion of being viable by importing masses of illegal aliens. In NJ our last Dem governor admitted that without illegal aliens NJ’s population would have fallen in real terms.
A lot (not all) of the homes recently lost in Hurricane Sandy were vacation homes (though many year-round homes have serious damage throughout the area).
As long as there is federal subsidised flood insurance, people will rebuild houses on the ocean. Ocean front real estate will always be in demand.
As far as the census shows you are correct. That is why homes starts increase in places like TX, NC & NH. People continue to move out of Cleveland and Detroit and move to places like Charlotte and Houston.