> Naturally then, most homeowners will want to continue to push for anything that increases the value of that investment and oppose anything that decreases it (e.g. building more housing).

The example is commonly cited, but it’s irrational (though that doesn’t mean people don’t do it).

Developed denser areas are higher value than sparse rural ones. For example, if the area around your house suddenly became New York and you owned a SFH sized lot in Manhattan, you’d be rich.

There are many nimby groups opposed to construction, but hardly ever have I seen it due to being “I want the value of my house to go up”.

Source: I own a house in the Bay Area and talk to my neighbors about what they think.