Sad to hear what's happening there. I’ve heard of similar situations in “University Towns” here in Canada too. Where I’m from originally (Nova Scotia) many of the small Univesity Towns face a similar situation. Wealthy students coming in from Toronto/Vancouver and driving prices up for locals. I suppose if you own the home you plan on living in forever you would benefit from rising prices but if you rent or are trying to buy a new home its a rough situation.