People getting priced out of an area could be good in the long term. Property taxes would have to increase a lot in that area to enable service workers to be paid enough to live there too. Over time this could act as a bit of a brake on housing costs in the expensive area.

My understanding is that people are happier with change if they feel that they have some choice in how to respond to it. If they were provided with a Basic Income then they could decide how to live within their means, maybe by extended families and friends picking where to live together.