On the whole this is right, but over simplified - at least in my experience. I know first hand a bunch of people who lived in dumbo in manhattan 5-10 years before it became gentrified and there was a collective sense that it was just a matter of time before it became gentrified and everyone would make some money.

Artists aren't somehow totally oblivious or too high-minded to take this into consideration. It's a weird narrative that paints artists as totally separate from the system, which just isn't true