Wow, Prateek! A wonderful stirring of a pot full of great ingredients. I'm impressed by how many factors you identified as crucial to taking a sound position.

I was hoping to see comments from nativists to see if they would either refute your points, or demonstrate the blinkeredness of their thinking.

Within the US, we have NIMBYism -- Not In My Back Yard -- where people build communities where everyone else wants to live. Because of supply and demand, high prices are a partial solution. You can have a big house in dreary country, or a small house in beautiful country. But then the rich want services from the poor, who need to live nearby to provide them. The poor's workaround is sleeping 4 people in each bedroom. Then, as they say, "there goes the neighborhood."

On a desert island, everyone will want to live by the oasis if there is only one oasis. Some rationing is necessary. The first-comers say "first come first served" but is that fair? Such a lot to think about.