Chances are that a 50 story building isn't going next to a single family home without serious changes to the entire block. More likely, people want to build multi-families which are not going to ruin your sunlight. Additionally, changing all of this takes a lot of time, just because zoning may be relaxed doesn't mean overnight its going to turn in to Manhattan or Hong Kong as opposed to Paris which largely is ~6 stories and not particularly known for being a hellhole.
It is immoral to always in favor of the people lucky enough to have bought at the right time. Surely it is a difficult balance, but chances are your home has appreciated enough to give you a lot of options too.
Furthermore, when you buy a house, you are a taking a risk. You're making an investment. I don't see why the rest of the world should be bending over backwards and living in stasis to protect your investment. If you want absolute control over what happens on your block, buy your block.
You're treating all real estate as if it's the same, but the world is more complex than that. We're talking about dense metro areas, where development primarily happens to support growing populations and an influx of businesses. How many expensive homes in downtown SF have become worthless because of industrial ventures nearby? Far, far, far less than have become extremely valuable, if any. This isn't just some theory on paper.
In short there are a lot of reasons to want to regulate what people build.
It's more complicated than Sim City ever was.
jzymbaluk said "Why shouldn't land owners be able to build whatever they want on their own property? It's not your backyard, it's your neighbors property" which screams "No zoning" to me.
Then "saagarjha" said "As long as they follow the noise and disturbance ordinances, then sure." which screams "the market will naturally balance homeowner satisfaction with factories/businesses".
I responded with "Are you suggesting that nightclubs should be banned altogether? If not, then where do you suggest to put them since they are inherently noisy?" as without zoning, homeowners, businesses, and factories could be right next to each other.
I was responding to (middle OP?) "Why shouldn't land owners be able to build whatever they want on their own property? It's not your backyard, it's your neighbors property" and "As long as they follow the noise and disturbance ordinances, then sure."
Those former seems to suggest getting rid of zoning altogether which would cause horrible negative externalities IMO. The latter assumes noise disturbances would somehow balance the market which I highly doubt.
Having laws about quiet times and public smells prevents the nightclub and abbattoir from locating there without blocking usages.
And let’s not be flippant. Nobody wants the ability to build anything anywhere, but it’s eaually absurd to not build much of anything at all. You can have density and affordable housing and a good quality of life; lots of cities do it already!