Which also means more development in the same area, especially for aging population. from the speculations I see into q2 2024 and reports, rates are expected to drop. we are at the same single family home sales as during the recession (approx 4 million homes per year)

With over three-quarters of new development having a tenant in-place at delivery, the U.S. retail market has faced virtually no threat from new supply, as developers and banks continue to shy away from large speculative retail projects.The vast majority of retail construction activity consists of single-tenant build-to-suits or smaller ground-floor spaces in mixed-use developments.

Would his suggestion generally be speculating that the housing market is due for a price correction and can be very well wrong?

Find an area you can expect to appreciates at least on an average rate (nothing speculative!)

This, of course is speculative. 

You can definitely still get deals in that area despite the Foxconn speculation. 

Speculation: They may engage in speculative practices, hoping for property values to skyrocket without considering the fundamentals of the real estate market.5.

To no one's surprise he's been pushing me the REI way, but from my perspective I'm just worried the gains he's now realizing are/will be long gone in NorCal since we shouldn't be investing in properties just due to appreciation speculation.

Most investors are not speculating on market appreciation although some do in expensive markets.

Horton is dealing in a commercial transaction purchasing from a land investor or land speculator.