I think in an urban environment, this phrase definitely has a different meaning. However, I live in a very rural town that's abutted the largest university in the state. And as a result, the university absorbs a lot of the land mass of the town. So there's a valid concern with what happens to the remaining property in the town. The unfortunate reality though is the university encourages landlordism and short term rentals for the sake of profit earning off of the transient student population as opposed to ensuring that single family zoned homes are given to families who want to work, live and utilize public services in town.

The reactionaries in this town can't seem to understand that the university isn't going anywhere and what the real problems are that underpin the town itself. So they get pissy about paving a road they don't live on as opposed to getting pissy about all of the properties being bought up and then rented out as commodities to students who don't live here.