I'm not saying that at all. I'm stating a real-world scenario that can lead to gentrification.
- Unscrupulous landlords intentionally drive down the price of property (this is NOT "low-income housing")
- They purchase the under-valued properties in bulk
- They increase rentals, prices and use power gained from the rate-payers association to force poorer people out, and to make it harder for them to move in
Furthermore, you can live on an expensive property and not be wealthy. That's not the same as buying a cheap property. Case-in-point: Families that have lived on the outer-skirts of a growing city for several generations. When they moved in the properties were relatively cheap, and rent was low. As the city grew, the land value increased. This does not automatically make them wealthy, and the increased prices does not automatically mean they will want to sell their properties or move out.
