I think the term is 'economically depressed area'?
During COVID we had flood of speculators and retirees from wealthier parts of Canada pour over our already terrible housing options and wash out a lot of the people living here. This flood was encouraged by local landlords and their pet politicians. Something they had been pushing for decades.
This was followed by landlords raising the rents and developing new housing beyond the means of most of the locals. Followed by tent towns in the local parks. Followed by the "concerned citizens" AKA "local business owners" pushing the government to kick them out of sight before the tourists came in the summer. Followed by thousands of people living in nearby forests and abandoned buildings because the cops can't be bothered to harass them there. Followed by the government on all levels promising affordable housing just as soon as the committee agrees on how they'll pay for it while maintaining their corporate welfare programs.
Perhaps in 2027? Sign up for the waiting list. Try not to die before then.
It's a familiar song and dance in your neighbourhood as well, I'm sure.