Richmond doesn't exist in a vacuum. All the grumpy people perplexed about "where do all these people work?" and "why are they still moving here when prices have gone up?" need to study up if they wish to understand their world.

Regarding mere Real Estate, places like Fairfax county keep getting more expensive, not less. People speak about say Federal government workers moving down to the Richmond metro, but the freed up inventory is often filled by higher paid workers as the private sector up there grows.

I am less familiar with Hampton Roads developments other than logistics infrastructure and am usually just there for the beach but have been aware that VA Beach in particular has slowly become a cheap and more climate-moderate choice for Beach Life folks who want to not follow the herd to FL. Certainly, ever time I am there I see that people have torn down a cheap bungalow or two and put up a farmhouse-craftsman or modern looking thing. Norfolk seems to be getting attention too (I find certain neighborhoods near Ghent and their "secret beach front" particularly appealing.

https://virginiabusiness.com/nova-hampton-roads-housing-markets-improve-in-november/

Point being, it isn't just Richmond prices going up --- it is happening nationwide, it is largely a multifactoral supply problem and, since many people in the USA and immigrants are mobile, they are not just moving to places like Richmond, that are doing well in States that are doing well, but also some pretty surprising places like Northeast Ohio.

Yes, Virginia is going well economically. This is just the latest news on the subject:

https://virginiabusiness.com/business-facilities-names-virginia-its-state-of-the-year/

As bad as this may seem, it is all relative and home affordability is getting a lot harder in many places more than in the Richmond metro --- pretty much all of Canada for instance is in a housing crisis -- if you are interested there is a lot of info about that and you can decide for yourselves why it is happening there.

So, all this talk about "soulless" NoVA people (many of whom are actually from the Richmond metro) and Northeasterners should just stay where they are is a silly way to think about things --- we either control what we HAVE control over (such as the decision to stay or leave a place) or we become toxic and blame other people for our inabilities to adapt. The people moving here tend to be adapters, the ones who just shake their fists are trapped in their heads and I worry about them lashing out in non-verbal ways because our words often become our actions.

Let the Downvotes Begin!!!