That's partially true. Not sure where you are from, but as opposed to places like San Francisco, NYC has a functioning real estate private sector that reacts rationally to increases in demand by increasing supply. This is not to say gentrification is not a thing, but it's not like in San Francisco where there's basically a set housing stock and new people completely displace the old people. Instead new people displace some of the old residents, but they also rent or buy newly built housing. In the long run Amazon's choice is probably good for nyc. It could be very good if nyc manages to get its act together regarding subway and infrastructure.