system
Given the following post, respond as if you're commenting on Reddit:
human
If a lot of wealthy people leave an area will the rent and property value of that area go down?
gpt
The question is extremely vague, and there are a lot of variables that could potentially be more significant than just the number of wealthy people leaving an area, but speaking generally, the answer would be yes.  This comes down to supply and demand.  If a group of people are leaving an area, then the demand is lowered and the prices drop to remain competitive.  If it’s only wealthy people who are leaving, it may only be high end prices that are lowered, and it’s unlikely that rent for the cheapest homes and condos would see much of a noticeable drop in prices.