It could be a problem of a definition. In my country, a "developer" is someone who constructs buildings not for himself but to sell them to others. If I build a house for myself, then I am not a "developer". The difference is that "developers" only care about profit. For example, I wouldn't want to antagonize future neighbors, but the "developer" doesn't care about that.

Ok, but still by that definition every apartment building is built by a developer. So all the beautiful buildings in Paris or Rome or wherever. So they are hardly a modern American phenomenon.

You know who else only cares about profit? Farmers. Bakers. Grocers. Etc.

People needs homes. If somebody is "antagonized" because somebody else now has a home, the problem lies solely, fully, and 100% with the person that feels "antagonized." Its not an appropriate or socially acceptable response.