Also, most voters in a given municipality own homes in that municipality (if they just wanted to move in they couldn't vote there) and so have a financial inter

Also, most voters in a given municipality own homes in that municipality (if they just wanted to move in they couldn't vote there) and so have a financial interest in restricting supply. And when most of your net worth is in one highly leveraged asset that's at least an understandable atttude. And if housing prices go down that might allow the wrong sort of person into their communities. Some people conceive this in racial terms but for others its that they think of poor people as lazy or impulsive and so not good neighbors. And I've certainly heard coworkers complaining that if poor people could move into their communities they wouldn't be paying their "fair share" of the school's running cost and so spending per pupil would drop. And, least concretely, I think, developers would profit and they align with our mental images of greedy capitalists more than landlords do. At least for non-renters who do most of the voting about these things.