> Taken together it's difficult to see how home values will be allowed to fall. If you allow increased density, and you use it to provide actually valuable hom

> Taken together it's difficult to see how home values will be allowed to fall. If you allow increased density, and you use it to provide actually valuable homes (rather than studio/one/two bed apartments or the like mostly intended as a store of wealth), then land value can go up while unit value goes down. This means people joining the market can buy for a couple of years salary, while people already in the market can exit and downsize for a decade's salary.