You will get lots of resistance to things that significantly lower current values unless they are very widespread. Consider my house. I paid $280k for it in 20

You will get lots of resistance to things that significantly lower current values unless they are very widespread. Consider my house. I paid $280k for it in 2007. Zillow estimates it is now worth $454k and Redfin estimates $498k. So on paper I've gained about $200k. But since property tax is based on value I've also gained a quite a bit on my property tax bill. Same with house insurance. Until I actually sell the house I gain no benefit from the gain in value, except possibly I could take out a larger home equity loan than I would be able to otherwise. When I do sell it then I've got a nice windfall right? Not really. Since houses have gone up all over the place if I buy another house the gains go into that. How about if I instead rent an apartment? Rents are way up since 2007 too, so the money runs out roughly as fast as it would have if house prices and rent had stayed the same as they were in 2007. So yeah, I'd be happy with the lower taxes and lower insurance that lower prices would bring, and would vote for measures that would bring that about such as more development. But only if whatever is done to lower prices in my region is also being done in the rest of the state and country.