There are groups of people that seem to think that sacrificing local experience should be shoved aside solely on the basis to add more Housing should be the most important thing.

The “local experience” of every young person being priced out of their hometowns and needing to move >50 miles away from home to afford a shared room in a small apartment. The “local experience” of 35-year-old couples who can’t afford to start families because they have a tiny rent-controlled studio apartment they got 10 years ago and now can’t afford to move. The “local experience” of all the artists and musicians who originally made a neighborhood trendy all getting priced out and moving far away never to return. The “local experience” of having all the teachers in the region working second jobs as bartenders so they can afford to live in a tiny apartment somewhere within a 30m commute. The “local experience” of having all the stores in town selling basic items close because the only stores that can afford the rent are upscale clothing/jewelry/etc. or fancy restaurants. Etc.

Yeah, what a wonderful “local experience”.

That's unavoidable anywhere population is growing. We don't have a right to buy a house where we grew up. Or maybe those kids can ask their parents to sell their house to them at far below market value. You're asking someone to do that, why not their own parents?

The opposite effect happens in small/shrinking towns. Kids who grow up there and move out for a career can afford to buy a house where they grew up but don't want to. Should these people be forced to move back to their small town so they don't displace the "rightful" residents of the booming city?

And it really sucks when more housing is added only to be used as Chinese investments while they sit empty not being used or rented out.

Well, it doesn't play out negatively in every city. The proliferating loft towers in Las Vegas don't really affect the housing stock available to local residents (most of which ranges from single family detached homes to 2-floor apartment complexes), and the fact that the lofts stand empty most of the time (it isn't just foreign investors, there are also snowbirds and empty-nesters buying a vacation home) means that they don't strain the local infrastructure much.