I honestly don't know. I can see arguments in both directions, maybe more building makes everything more affordable and my property becomes worth "less" or maybe it results in nothing but expensive condos and my fancy neighborhood just gets fancier. I'm in the incredibly lucky and privileged position to not have to care that much about my personal home's property value. I spend a lot of money to live where I live. If I was interested in choosing where I live in order to maximize my wealth I'd move to a state with no income tax. Instead I choose to live in a place I love (both the Bay Area regionally and Oakland locally) and want that place to be as great as it can be. I think more people makes this place better. I want kids for my kids to play with on our block. I want empty storefronts to be full of new restaurants. I'd like my neighborhood and the Bay Area to get more affordable so my friends don't have to move away when they have families and are hoping to upgrade from a one bedroom apartment. I'd take a sizable hit on my property value to make that happen.