Quote:
Originally Posted by TempleGuy1000
NIMBY homeowners are easily one of the most powerful voting blocs in nearly every city. It's not entirely their fault. We, as a country, decided long ago to treat home ownership as an ever appreciating asset. People think their protecting their investments and their lifestyle by blocking others from living near them. We glorified people who bought affordable housing and 'fixed it up' to make a large profit, even if it locked certain people out of the ability to buy a house. The housing crisis is a making of our own doing. Nothing, and I mean nothing, is worse than the Suburban 'progressive' NIMBY. The type of person who hangs a 'Hate has no home here' unless of course you want to live near them.
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I'm not even sure it's about "protecting your investment." Looking at housing as an investment, NIMBYism makes zero sense.
First, if housing is an asset, strict zoning is like a restricted asset. Unrestricted zoning is an unrestricted asset. You can do a lot more with your property, from subdivide the lot to build a second home, to sell to a developer who builds a new large mixed-use project. hence, you make out better.
But, even if you don't want to cash out or upzone, you're still better off. Look at the prices of the remaining single-family homes surrounded by dense mixed-use development in any city, and you'll find they cost $$$. There's a select market of very wealthy people who would love to have access to a detached single-family home with off-street parking only steps away from busy commercial districts, and they will pay top dollar!
Really, I think NIMBYism is more just about old people who don't like change than rational self-interest, at least in urban areas.