I can only speak about the Midtown Detroit where I lived from 2002 to 2008. It was a group of students, artists, musicians and old-timer bohemians that made that area great and interesting. The only common denominator was that nobody had much money.

Once the suburban kids from more wealthy suburban families started to move in it was all but over. I visited recently and the rough edges and patina and unpredictability has been worn away by the safe suburban values and esthetics of the new residents.

I know it gets tiresome to hear, "You don't know what it was like, man." in regards to gentrification. But I can get over-stylized brew pubs, twee boutiques, foodie small plates and corporate sponsored street fairs anywhere. Those things where not there when it was deemed "Cool". My rent was $400 that I split, the same (rather shitty) apartment now goes for $1600. When the cost of living goes up like that, you've shut our a lot of interesting people looking for a chance to do something interesting.

People with money are chasing "Cool" and it's the one thing you cannot truly buy.