Once upon a time the City of Richmond was a bedroom community for Airport workers, and of course the working middle class.  Now 47% of the housing units in central Richmond are vacant and sold. And the average sf detached house price is pushing $2 million dollars. 

Working families are no longer choosing Richmond to settle in, and the new build mansions that are replacing older housing stock often sit empty all or part of the year.

This is entirely due to the  commodification of the  the housing market, primarily driven by overseas money.