@Chris Munichiello quite often gentrification takes place in cities where there's a shortage of prime housing.As many others have mentioned the signs of gentrification I won't repeat but you can look at certain cities across the US that have seen gentrification over the last 20 years to have a better understanding of what your looking at.San Francisco - 1993 and 2003Culver City, CA (part of Los Angeles) - 2010Inglewood, CA - 2017 to PresentPortland - 2003Seattle - 2001Nashville - 2004-2009It's exciting to be part of the gentrification process as you truly do see the trendy coffee shops, the Trader Joe's, Whole Foods, big branded hotels, and trendy housing options being added and developed.I'm experiencing the gentrification process in Inglewood, CA right now and it's great!

There is a shortage of modern 3 bath 2 bath homes w/2 car garages and basements selling for 150K in good suburban neighborhoods.

You'll have no shortage of replies.

The drought has created a major water shortage for farmers (bit part of the counties economy) and there is a moratorium on fracking which is affecting the local oil industry.  

Not sure if this is the segment @Brandon G. is referring to or not, but it is from just a few days ago.http://www.npr.org/2016/02/05/465672023/shortage-of-rental-properties-contributes-to-record-high-rents

Deals being hard to find does not constitute a recession.We are, however, in a housing shortage due to the crash in 2007 / 2008.

In Dallas there is still shortage of single family housing stock.

Something to think about I guess the purpose of the governor's encouragement of ADUs was to aide the housing shortage.

There is always risk; other than the zoning, risk in this case is pretty much nil as there is a shortage of quality rentals in the area. 

With the housing shortages in some cities I don't know if that will continue, but that's what happened.