Edit: We're at the post limit so I'm adding my response to jelliclesfarm's below post here. Put simply, I agree with your assessment of the situation. My point was that the combined effect of all the various political entities compounded with material concerns is the reason why, even if the motivations are good, we're still seeing an exodus of people. If you were to ask my personal feelings specifically on how to resolve the issue of local home owners I'd argue to still remove the height limits but (since the renters moving in are already saving money by way of downward pressure) implement a modest, in the real way, tax that goes to affected local home owners as compensation and which can't be claimed by children who inherit the house under prop 13. By definition the home owners would be heavily outnumbered by renters in new units across the city and the compensation can be capped at roughly whatever the owner's losses are assessed to be.
One can’t go to a market without a bargaining chip. At the negotiating table for high density, there is nothing to convince property owners to give in and give up their priorities.
In any game, there is a winner and a loser. In the housing game, who wins and who loses? Who has the bargaining chip and who has the winning set?
Now... why should any home owner give in to high density when a crowded city brings in no direct visible benefit to them?
Obviously, if there are benefits...everyone would be tripping over themselves to build higher and go vertical.
So far, there has only been the threat of higher taxes and open calls to get rid of home owner benefits. The weak and needy are shaking a stick at the fat and the rich. Hardly the honey to attract the flies.
Threats to raise taxes is not a winning strategy. It’s just vinegar. Wont work.