Also, the available, functionally livable land is going to quickly get smaller with climate change. So the more viable land is hoarded, the more people are pushed into desperate and bad living situations. (For example, who are the people with homes on coastlines affected by rising sea levels going to actually sell their soon-to-be-underwater property to? Won’t it effectively be valueless under water?)

https://www.semafor.com/article/11/02/2022/climate-change-alters-way-of-life-in-michigans-upper-peninsula

Michigan’s Upper Peninsula is being gentrified because it’s an area least likely to be affected by climate change. A lot of the mega-rich are buying property around that area.