I wonder if we'll see a fall back into slums as the people driving the urban gentrification dry up and stop moving in. If we do, I'm a little curious how it will be spun to be white people's fault.
That will be very interesting to watch. Gentrification has been, going on a couple of decades at least, a pet project of the coastal elites, especially of the hipster variety. As much as that demographic irritates me, they have turned some slummy areas around (though that comes with consequences for other demographics).
Now we have the same areas that were magnets to the wealthy cool kids becoming places to avoid. I also see that the "tiny house" movement is, at least for the near future, dying.
Besides moving to larger houses in suburbs near to their previous city dwellings and employers, those who have the telecommuting freedom with their employers are also heading to "hip cities" as well as "hip towns" where the smaller towns have robust internet infrastructure. Boise is one example where the real estate market involving coastals coming in is out of control. It was already getting coastal residents previously, but the numbers now are getting crazy, both in people and housing prices.
Garden City, one of those gentrification areas that is right next to Boise, is apparently getting the gentrified hipsters from San Francisco and the like. They can get the same gentrified, corner wine bar vibe without the riots. I have been looking at townhomes as a rental investment, and Garden City is one of the areas my realtor sends me. Townhomes there on the river are now averaging $500K and up, which for the rents you can get, is already pushing them out of the "profitability" realm.
I can't help but wonder if twenty years from now we'll see the whole thing reverse again.
