Comment by Tuna-Fish
11 hours ago
> I think homeowners are too close to the problem to make rational choices.
The homeowners are making rational choices. That's the problem. As the most expensive asset a typical homeowner will ever own is their home, it makes rational sense for them to support any policy that supports it's value and oppose any policy that undermines it's value. Building more housing undermines it's value.
And this is why the local community absolutely should not have any more say about a new development than a hypothetical someone who would like to live there, but can't, because there is no available housing.
> And this is why the local community absolutely should not have any more say about a new development than a hypothetical someone who would like to live there, but can't, because there is no available housing.
If you start giving "hypothetical people" a say, you stop having democracy. You can invent as many hypothetical people as you want to force any outcome.
And real democracy requires local control. A distant democratically-elected government making centralized decisions may just as well be replaced by a tyrant, given how unresponsive it will be to your concerns.
The "hypothetical people" are in actuality all the other voters in your country. Lots of people are "pro-development, just anti-development near themselves".
Do you think that the Japanese system where permitting is centralized away from local government antidemocratic?
A real democracy requires local control for some things, but what makes zoning one of those things?
> A real democracy requires local control for some things, but what makes zoning one of those things?
Because it's one of the biggest things that affects your local environment?
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Density will make their home value go up. They are perhaps making rational choices if what they want is for the neighbourhood to stay the same -- but then they are accepting a lower value, by retarding economic growth.
> Building more housing undermines it's value.
no it doesn't, high density allows more value to be extracted from the same plot of land since the volume of units offset the individual price reduction of each one. as a result, developers regularly offer homeowners 2x or 3x their market value to incentivize selling.
Yes, it more efficiently utilizes the land. But, if you are not the person who owns the plot that gets developed, more housing being built next to you harms you.
It bothers them, perhaps, but doesn't harm them in an economic sense -- the value of their home increases.
They're often terrible at knowing what helps or hurts values though.
My impression is that "home value" is often a dodge that sounds better on paper than "I don't like change". You generally can't sue over hurt feelings, but if you can attach some kind of monetary value to it then the courts may take your case.
As you note home value is an extremely nebulous concept as it is tied to whatever people who currently do not live in the community might pay to buy a house. No matter what someone sells for they can always say "it would have sold for more if every single house was painted exactly the same shade of beige, you miscreants with your off white, ecru, and oatmeal houses have cost me tens of thousands of dollars!"