I don’t understand the logic here, the land itself will be valuable regardless of whether or not there is a house there or an apartment building. The principal component of the cost of buying a house or a condo is the associated land cost. Building more density gives more people access to that land.

If your contention is that more housing is bad because it draws more economic activity which raises land values then that’s fair but this is the same as arguing for less freedom of movement. Essentially any nation that adopts your policy prescription is taking a step towards turning into the Soviet Union.

That may sound like hyperbole but that is the end result of NIMBYism and illiberal land use policy.