> voters may realize that increasing the value of their homes doesn't make them richer if it also increases the price of other homes they want/need to move to.

> voters may realize that increasing the value of their homes doesn't make them richer if it also increases the price of other homes they want/need to move to. Folks planning to use their home equity for things that don't require them to move do, in fact, end up richer. For example: a higher home value allows one to borrow more for e.g. college for one's offspring or to start a business, provides for a larger inheritance (or donation) from one's estate, etc. Home equity is real money that people do use without selling their homes.