Earlier quoted context omitted.
Upzoning increases land prices. It only results in a decrease in per-unit average house prices if it is accompanied with development (more housing units per square metre of land). Upzoning doesn't guarantee increased development as developers only build when it makes financial sense to do so, and flooding the market with more units would decrease the potential profit they can make. Existing residents who don't develo…
> Now, they still might revolt for other reasons, like not wanting undesirables like people poorer than themselves to move in next door, or not wanting to see as many houses in their morning walk, but from a financial sense, upzoning is a big positive for existing landowners. This is a very uncharitable take. People choose a place to live based on criteria they like. If you want to live in a super dense city you migh…
Maybe the underlying truth is merely "I don't like change", but the actual literal reasons given by many people when blocking development in their neighbourhoods in my city are not saying they don't want change, it's far more targeted at the kinds of people who will move in. I tend to operate on the assumption that the true reasons they have for not wanting development are worse than what they will voice in public, and at least certainly not better.
> Except for house flippers, people don't care about the financial sense.
I agree that typically this isn't the issue; the person I responded to did seem to think it might be though.