> when the impoverished locals realise what it means to compete with (from their perspective) extremely wealthy blow-ins

It's also more socially acceptable to complain about this stuff when the newcomers are seen as wealthy. We saw this in Canada when Chinese nationals started buying up houses in Canada. To the point the government started limiting foreign ownership of residential real estate.

https://www.cmhc-schl.gc.ca/professionals/housing-markets-da...

In Canada , it wasn’t limited to areas with economic struggles/lack of investment.

Most of the investment was in major metropolitan cities, leading to a statistically significant percentage of residential housing stock being bought up with foreign(imported) capital. Many of these units were subsequently used as store of investment (left empty)

Since policies did not support building at the pace that met increased demand(mainly immigration), and many foreign buyers were comfortable bidding up housing: this was a significant contributor to housing prices inflating to mutiples that were much higher than previous trends (i.e. upto 20 times median salary vs 5/7 times previously)

And the foreign buyer ban did lead to a measureable decline in prices

Anyway,

The primary thing cornering Canadian real-estate was investor corporations, rather than Chinese nationals. But it was easier politics to highlight Chinese nationals, esp. coming up to their election.

Complain about what stuff? Isnt he saying the complaints are specifically that they are wealthy?