I remember back when attracting money spenders to the area was considered great for business and jobs, and competitive. Sometimes have trouble wrapping my head

I remember back when attracting money spenders to the area was considered great for business and jobs, and competitive. Sometimes have trouble wrapping my head around folks against it. What changed? My current theory is the housing shortage. Means that all community benefits flow towards rent-seeking real estate owners, everyone else just gets squeezed.