I don't think a concept of a fractional ownership exists because, well, it's not yours.
If you really want some guarantee that your immediate radius will meet some sort of standards, it sounds like you'd want to be part of an HOA. I personally would never want to be part of one (who likes being told what to do?) but they could help protect property values from that one neighbor who could be a problem.
"Everyone should maximize the income from their property up to the limit of law" is a recipe for for having no neighborhoods or communities. It's the usual fallacy of treating people as fungible commodities.
HOAs are terrible, they are inevitably staffed with busybodies. We can agree on that!
It certainly is in San Francisco at least. Well, probably not literally zoning, but regulations around it make the home owners in an area de facto owners of it in many ways.
I see the current housing crisis as a direct result of this.
You’re asking rational actors to make irrational decisions. The results are what you’d expect.
As I mention in a sibling comment, you might see changes in a decade or two, but no sooner.
I am not opposed to efforts related to increasing the housing supply (although I do think it’s a fool’s errand in the Bay Area as demand is insatiable due to the tech industry and foreign money seeking a safe asset store), I’m just describing the uphill climb these endeavors face. It’s hard to fiddle with a core component of the economy (property law).
That would be unthinkable today though.
Like, do you think if they bulldozed Manhattan to a big lawn that would make the price of the brownstones and single family homes actually worth more?
Your house would be millions more if your neighbors were allowed to develop to build market rate housing. People want the price per unit to go down by building more density. That means each lot will be worth more since you can replace it with more units. You own a home that's on a lot. You win financially if people are allowed to build. Think about how much a developer would offer you or your kids for your home after you don't need it if they're allowed to actually build. You'd be leaving your kids a fortune.
I don't know a whole lot about it, but in NYC they have some concept of air rights, i.e. a particular 2D plot of land also has a height limit, and somehow those can be changed by buying up two plots and adding them together. And then most everywhere is the idea of "I have a right to this particular view in that direction, and maybe also this other direction over here, you can't build a building to block that view unless you compensate me - oh but wait no I don't want to be compensated actually, I want to just be able to prevent you from building anything."
So at one time people resolved such a dispute with bribes, or threats, or murder. And then later on it was resolved with bribes and elections, where only land owners had the right to vote so renters couldn't just come in and change all the rules. Today renters can vote, and basically if your town has more politically involved renters than owners, they can change the building codes, and get more high density housing built or whatever.
Anyway, it could be worse: no one wants to live there and it depreciates.
If what happens on the properties around you is critical to your enjoyment of your property, you should have bought them too.
You can't go to a fancy restaurant, order a salad, and expect to get a steak for free because it's necessary for you to properly enjoy the salad. If you really want a steak, you're going to have to pay for the steak.
The restaurant example is actually perfect because a big part of what you pay for in a restaurant is not just the food. It is the service and ambience.
Edit: My home price is based on access to the subways. I don’t own the subways. We happen to live in a system where the subways are run by the government, not privately owned. But regardless, I would do everything in my power to make sure the subways stay as good as possible, partly because I use them myself all the time, and partly because my home value is tied to them.
This is demanding that the restaurant leave perfectly good floor area clear and let a line form around the block, because more tables would ruin its quiet ambiance.