Meaning of "To be priced out of one's hometown" [closed]

Solution 1:

The prices reached by properties in attractive areas exceed what a normal local person can afford because the properties are bought by external people with more money. In consequence, locals cannot compete in the local housing market and are said to be "priced out".

"‘There goes my chance’: house prices rocket as Cornwall locals priced out"

Guardian

For example, in St Mawes, a fishing village in Cornwall in England:

Figures published on Saturday by Halifax show St Mawes has had the biggest increase in average prices of any British seaside town over the last year, soaring by 48% from £340,000 to £502,000.

Guardian

We maybe sure that average local income has not risen by such a large fraction (about 50%) in a year, so what may have been affordable for a local person a year ago is not affordable now. Prices have risen and that means most locals are out of the market. They are priced out.

Solution 2:

Per Investopedia

Being priced out of the market means that it has become too expensive for you.

Being priced out is commonly used to refer to the real estate market. For example, people in cities with extremely high average home prices, such as Newport Beach, California, would be said to be priced out of the market if they could not afford even an entry-level home. In markets where people have been priced out, these people may become permanent renters or simply move on.

Note that according to this definition, it doesn't mean that the party being priced out has to move. It simply means that they are priced out of the real estate market (i.e. owning property).