upzone
So we should use public money to compensate private property owners for making a bad gamble, at the expense of people who need a place to live. I’m sorry, but why is owning property a guarantee of a return on your investment? Should we compensate people who hold stock in coal companies when we regulate the coal industry too?
Also, I don’t think people’s home values drop all that dramatically when new housing is built. We’ve been putting this off for decades, but we’ve also been artificially inflating housing prices. Maybe your tiny bungalow ISN’T actually worth $500,000. Maybe decades of bad local policy have ballooned the price of your house at the expense of others.
And even so, even if building housing makes your house decrease in value, that’s still not a good reason to prevent development. I care much more they cities are healthy and plentiful housing than I do about some Boomers who got lucky with when they bought into the real estate market.
The solution is actually remarkably simple: build more housing. We did it before; plenty of other countries with more sensible zoning laws do it. There aren’t enough places for people to live. We can either start killing people, or we can put up some walls. Personally, I’m a fan of buildings.
Edit: typos (phone)
The real issue with NIMBYs is how restrictive zoning is. Sure, you can build anything you want if it conforms, but good luck getting it to conform. For example, single-family home neighborhoods are pretty much stuck that way. Want a nice, compact apartment building? Or maybe even a fourplex? Good luck. In my reasonably-sized college town, upzoning happens once PER DECADE.
This is the affordable housing crisis at its core, and it’s remarkably procedural and boring. People are unable to afford homes and apartments because of simple tedium that takes place in beige board rooms at 11:00 PM on a Monday (i.e. local politics).
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!
Second, it’s frustrating that people only think of themselves. “What about my view?” What about the hundreds or thousands of people who can’t live near their jobs or their kids’ schools because of your precious view? What about the people who will be forced to drive in and get stuck in traffic, people who probably can’t bike because they’re forced to live in another town only reachable by a long highway trip? What about the people who are forced to pay higher and higher rents because everyone blocks development everywhere in the city?
Screw your view, honestly.