Allow me to be blunt: It is a waste of time to respond to this issue [of gentrification] by transforming the socioeconomic phenomenon into a rhetorical weapon that progressively loses its sting the more it's used. Gentrification is not an abstract moral failing - a kind of transplant's original sin - or an imported aesthetic worked into the fabric of a neighborhood. It is a result of money and power - of the landlords, developers, real estate flippers, and investors who have it, and everyone else who does not. Most of the folks living in a neighborhood, transplants or not, are neighbors. Many are tenants whose ability to stay in one place is at the mercy of their landlords, regardless of whether they are on a fixed income, work at McDonald's, or have a cushy work-from-home job. Many, like the working-class people on my street in Chicago, own their homes and can attribute their economic stability solely to that fact. Even if they are sitting on a house-shaped mountain of cash, that cash will disappear the moment they sell their home and try to buy another one as investment-minded strangers close in around them, squeeze out their neighbors, and toy with the value of their property. Or these homeowners lose their only asset and become renters, a sadly common fate that is the by-product of our terrible, broken housing industry. Meanwhile, especially in Chicago, speculative buyers - companies like Blackstone, and even developers - take the existing stock, often two-flat apartment buildings, and convert it into palatial urban McMansions. The people who move into those houses have more money than the majority of the people in the city can fathom, and often fight any attempt to distribute that wealth more evenly. They are not good neighbors.
Wagner, Kate. "On Gentrification, We Don't Know What We're Talking About." The Nation, September 5, 2023. https://www.thenation.com/article/society/gentrification-rhetorical-weapon-systemic-issue/.