"Renters" vs "Owners" Neighborhood - Recently Changed

[Chris S.]

I have been investing in a specific town and recently one of the business owners that has been there for 20 years + told me that "The neighborhood is changing from an owner neighborhood to a renters neighborhood".  Meaning less people own the houses in that area.

How will that affect my investments?  Is it good or bad for the rental market?  Should I continue to invest in that neighborhood?

Thanks for any incite you have..