Gentrification is bad for local renters, but generally doesn't hurt the property owners, who have property that is appreciating in value. You can live there, or

Gentrification is bad for local renters, but generally doesn't hurt the property owners, who have property that is appreciating in value. You can live there, or sell up and live a more luxurious lifestyle somewhere else. The increase in property tax won't come anywhere near cancelling out the increased equity - at worst, you could take out a line of credit on the property and pay the property taxes with that.