Well many of the people displacing residents don't "own" the land either. They can just afford crazier rents. The distinction between whether someone is renting or owning has little bearing on where someone considers "home".

See: entitlements people feel about going back to "homelands" in the Middle East, or to Europe after the war. These are not people that owned land, and yet we still feel morally responsible to help them return to their original homelands.