This was an accurate stereotype up until about ten years ago:
Source.
However, in the past decade these folks have been pushed out by...
Source.
...this bitch and all her rich bitch friends, and their golf-sweatered husbands. They're white, they're middle aged, they're from Atlanta, and they think nothing of dropping $350K on the most
darling little West Asheville bungalow because it's just the most adorable thing that Bootsie has ever seen, and she has to have it, has to have it, has to have it
right this instant, Thad and who cares that it's on the verge of collapse and and it's actively on fire --
there are people who do these things, Thad, darling... Buy it, buy it, buy it!!
And of course they can afford it. They have more money than God. And so it goes on. Sunflower Moonbeam moves out, Thad and Bootsie move in.