An overall increase in wealth for whom, exactly?

The people who get priced out of neighborhoods have to go somewhere and the problems that devalued their homes don't really get solved. If one of the residents is a convicted felon in that neighborhood, he's a convicted felon somewhere else too. If they were on Suboxone in Reservoir Hill, they're on Suboxone in Landsdowne.

Not only that but just because you think a neighborhood is terrible and the people don't really want you there doesn't mean it's not someone's home. It's functional for them. Maybe they won't be able to function as well elsewhere. Maybe they won't be so welcome.

The other longer term problem is that it's investors, often out-of-towners, who buy these properties and rent them out. The people who live there tend to live where it's trendy and will move onto the next big thing in a few leases. You really don't want investors owning chunks of a city. That's how Baltimore got into this mess in the first place.