The problem is "protecting property values" can mean cracking down on things like insufficient lawn trimming, or not having a lawn, even in climates where lawns

The problem is "protecting property values" can mean cracking down on things like insufficient lawn trimming, or not having a lawn, even in climates where lawns make zero sense, like Arizona, or simply the presence of non-white people who might "decrease property values". What if you don't want a fence? What if the HOA gets slowly subverted by a bunch of nosy types that just want to make sure everything is perfect and nobody steps out of line? The legal authority of an HOA is surprising in some parts of the US. Don't pay your dues and they can seize your property. Your property values are going to increase if the area is desirable and the economy is doing well. You don't need a fascist HOA to take care of that. North America has this unreasonable fixation on property values because of how over-invested most people are in their homes.