That's not universally true though. Many times new development will block a view, or it might run the risk of bringing in "undesirable" groups which would lower property values. There is definitely a long-run argument that values will go up if you increase the power of network effects...but it's always better if the locality next door does it, and not you.

Unfortunately the incentive problem here is real, and there isn't a super obvious solution to it. At least, not to me. Trying to shift the culture and convince people to vote against their own economic incentives is great and all, but I don't think it is destined for success at any significant scale.