I think this song really is about a woman the narrator is having a relationship with but is unsure if he wants to continue it. She is falling in love with him but he doesn't feel as strongly, therefore he disregards the idea that her problems or "breakdown" could be associated with him. He gets defensive because he doesn't want to be held responsible for her emotions or deal with talking about their relationship. The narrator knows the woman might be right (you don't feel you could love me) but doesn't want to acknowledge it yet. He isn't in a mindset to commit to anybody, but doesn't necessarily want to be alone. That's why he convinces himself that this girl on the street is flirting with him, looking for any reason to move onto something new before things get too serious. Really, he is the one that initiates things with the new girl and the cycle starts over again.
I think this song really is about a woman the narrator is having a relationship with but is unsure if he wants to continue it. She is falling in love with him but he doesn't feel as strongly, therefore he disregards the idea that her problems or "breakdown" could be associated with him. He gets defensive because he doesn't want to be held responsible for her emotions or deal with talking about their relationship. The narrator knows the woman might be right (you don't feel you could love me) but doesn't want to acknowledge it yet. He isn't in a mindset to commit to anybody, but doesn't necessarily want to be alone. That's why he convinces himself that this girl on the street is flirting with him, looking for any reason to move onto something new before things get too serious. Really, he is the one that initiates things with the new girl and the cycle starts over again.