To your second point, this continues today: currently in the US, the more sprawl-friendly the local geography and politics, the lower the housing prices, becaus

To your second point, this continues today: currently in the US, the more sprawl-friendly the local geography and politics, the lower the housing prices, because it's easier to build out than to replace old residential homes and apartments with new, denser versions. There's a certain type of YIMBY that lets perfect be the enemy of good there.