I wonder if longer term this current trend of "desirable" places becoming more and more expensive will ruin them and currently cheaper places will become desira

I wonder if longer term this current trend of "desirable" places becoming more and more expensive will ruin them and currently cheaper places will become desirable? What made those areas desirable in the first place? Can those places stay desirable if they contain only old rich people? What's fun about a NYC without kookie artists?