Hi,
I'm not sure what leads you to that conclusion, I suspect that there will be a new release soon.
Adobe hasn't released an update for camera raw 8.6 (which has been out for a while) for elements 12, suggesting to me that a new version of elements is soon to be announced.
Adobe normally announce their new versions in September and they do not give any hints before the release date. Anyone who knows for sure when/if it will be released are bound by non disclosure notices and therefore will not say. Anyone who says when/if there will be a new version (like me) are only guessing.
I also believe that Adobe will continue to produce elements as a way of try to get people to buy there more powerful products.
I'm not sure why you are not interest in the "cloud". The creative cloud is more a way of delivering the software and keeping it up to date. You still run the application on you local system and all your images remain on your disks.
Brian