Property improvements on personal residences aren't a financial investment. They usually don't have a high, or even positive, rate of return. Rather, they're im

Property improvements on personal residences aren't a financial investment. They usually don't have a high, or even positive, rate of return. Rather, they're improvements to your home and your quality of life. They're also your kids' home, and could be their kids' home, and so on. Government bureaucrats should not have free control over those improvements after 100 years. Making all land rentable clearly isn't about encouraging development and affordability; a land value tax could do that. Making all land only rentable is clearly a scheme to allow government to steal valuable land from the current owners who otherwise could afford the taxes and wouldn't sell. Many NIMBYs don't even care about their home value (unless they've purchased recently and don't want to be underwater on their mortgage). If you actually talk to most homeowners, especially the long term ones, they care much more about the neighborhood and home they've built so hard to create. Seeing a life of memories razed for concrete and glass townhomes/towers isn't an easy pill for anyone to swallow. All that said, we do need to upzone for affordability. But all of this talk of "we aren't protecting your investment" is misguided, that isn't what single family homeowners care about.