Preface: I understand what you're saying and am no expert. Is there not also a gap before the new production? I live in a city that's been through some serious

Preface: I understand what you're saying and am no expert. Is there not also a gap before the new production? I live in a city that's been through some serious gentrification and gone from an afforable southern city to something...else. What I've, anecdotally, noticed is that the prices start before the rents. 1) Area is priced well below an adjacent or similarly positioned area but missing the amenities 2) A handful of developers build/renovate and put in something that's way above (50%?) current rate in the area 3) Marketing and salesmanship move the houses. 4) More developers/flippers enter the market, this time their marging shrinks a little or the price goes up. 5) Repeat until profits are less than moving to somewhere else in step 1 What I'm getting at is the gap in prices where the developers are looking to make several fold what they would in more established areas. That being possible shows it's still more affordable. Additionally, if it's not already more affordable, where are the people worried about getting pushed out living?