BI,
1) You are not comparing apples to apples. You keep shifting between Forysthe/Fulton County and John's Creek as if they are interchangeable but they're not. John's Creek is high end of the income bracket for Fulton County. It would like saying that Turtle Rock is representative of Irvine (which is is not).
In Georgia, approximately 9% of the population makes more than $150K a year. Approximately 15% of the population in Fulton County makes above $150,000K a year. Forsyth County has about 24%. In JC, that number jumps to 31%. This means that JC already has a disproportionate number of high wage income earners than Georgia or the local area.
Thus, not only would Georgia have to continue to attract high wage earners, the bulk of those earners would have to choose to live in JC.
2) Georgia's growth rate has significantly slowed down. The growth rate for population change between 2010 and 2013 was 3.1%.. or about 1% a year. The growth rate was about 1.8% a year between 1980 and 1990, 2.6% a year between 1990 and 2000, and about 1.8% a year between 2000 and 2010.
Growth rates are not exponential or consistent. They usually boom and then stay flat. Georgia had its growth spurt in the last 30 years and are beginning to flatten out. Georgia is not super unique amongst states like California, Florida, New York, or Texas are. It doesn't have a geographic advantage like those 4 states and not a traditional business base. There are no inherent advantages for a business to be in Georgia like there is for those four states.
3) There is a numbers game issue. There is finite number of jobs that pays above $100K.
Irvine has 240,000 people. 32% of people living in Irvine have income make more than $150,000. That's about 76,800, basically the entire population of John's Creek. 23.4% of Irvine resident make between $100 to 150K, or about 56,000 people.
Forsyth County has about 190,000 people with 24% of the people making over $150K and 25.88% of the people making between $100 to 150K, which breaks down to about 45,600 and 49,000.
John's Creek has 80,000. JC's has about 31% make above $150,000 and 22% between $100K to 150K, which breaks down to about 24,800 and 17,600.
4) Irvine has a significant student population and is younger demographically. This matter as to income. Most of those between 20-24 are making little to no money. 25 to 34 is about when people start making good money. 35-54 is maximum earning age period.
Irvine: Median age is 33.9
20 to 24 years 9.59%
25 to 34 years 15.80%
35 to 44 years 15.59%
45 to 54 years 14.05%
55 to 64 years 10.05%
Irvine has about 30% of the population in prime earning age (close to the percentage making over $150K).
JC: Median age is 38.
20 to 24 years 2,672 3.48%
25 to 34 years 6,506 8.48%
35 to 44 years 13,739 17.91%
45 to 54 years 15,196 19.81%
55 to 64 years 8,150 10.62%
JC has 37%.
What does this mean? It means that a lot of young people are moving in Irvine as they are making their way up and their earning potential is going to grow in the next 10-15 years. JC, on the other hands, are populated by people who are already established.
5) You don't understand FCBs at all. The fact that they are FCBs means that they are not investors. They buy houses to live in, not to invest in. FCBs make their money overseas (usually China) and park their money and families here. The vast majority of FCB buyers come to Orange County and especially Irvine. Also, FCB don't show up in income surveys because they technically don't make money in the US and are not very likely to participate in census surveys.
FCBs don't invest in real estate...at least not rental properties. If they do invest, it's in commercial property.
http://www.ocregister.com/articles/buyers-380751-foreign-homes.html
This will be my last post on the matter. If the above points are not enough for you, that's all I got. You're the investor and most of the data is out there. Again, you are trying to be a salesperson so I get it. I just hope you don't drink too much of your own koolaid.