[anifow]

Gentrification is happenning in Toronto outside of the downtown core, albeit very slowly.

The main effect is you have families cashing out and moving further and further away from the city to put the real estate price differentials to good use (bigger house, or cash in bank). In the current environment, it actually makes zero sense to buy residential property for the sake of renting it out, so the only ones who are long time owners. Over time, they too will cash out and it will be harder to find rentals until the neighbourhood either increases in status to command higher rates (like what happened in Kensington Market or in the Bellwood neighbourhood), or the property prices start falling to a low enough level that it makes sense to buy rental property again.

[BrainInAJar]

The neighbourhood I live in in my city was once crappy, got gentrified when living in the gay district got popular, and thanks to the power of inflation, is now just a nice, modest, middle class neighbourhood again.