Gentrification--Urban Movement, but Small

It appears that the gentry are returning to the city in droves, snapping up old Federal, Victorian and Greek revival structures in some of our declining and marginal neighborhoods, rehabilitating these structurally sound buildings, and driving up the value of the surrounding properties, with a resultant upgrading of the neighborhoods in which they are located. In the process the poor and moderate income residents can no longer afford to live in their old neighborhoods, and are being forced from their communities by this avalanche of affluent professionals who have rediscovered the joy of urban living. At least this is what the media would have us believe, but is this really the case