I got priced out the neighbor I lived in for 20+ years because of gentrification . I walk by the area once in awhile and there's always a new shop cause the people moving in can't keep their businesses open cause no one around cares to shop there.
I'm worried about something like this. We bought our home for $160,000 4 years ago, we recently had to get the home refinanced because the mortgage company kept coming up $1k short on taxes each year so our payment would climb $100 a month every year. Our home is now valued at $210,000 I think, which is good if I was going to sell it but I plan to live here a while. They're putting in new $500k homes in a neighborhood close by and I'm worried that eventually I'm going to get pushed out of my home and my neighborhood. I don't see how anyone will be able to afford living around here anymore, we certainly wouldn't have been able to afford a $210,000 home 4 years ago and we had a 20k down payment. 2 homes are this street are vacant and have switched their signs from 'For Sale' to 'For Lease' I assume because it's easier to get people to not have a huge commitment to this area.