Comment by smuhakg
10 hours ago
> 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.