The NY Times has an op-ed-ish piece about California NIMBYs (NIMBY stands for Not In My Back Yard). The article focuses on an anti-building activist, but once you clear away all of the rhetoric, this is what it’s all about (boldface mine):
“From my backyard I see the hillside,” Ms. Kirsch wrote from her Hotmail account. “Explain how my property value is not deflated if open space is replace(d) with view-blocking, dense, unsightly buildings.”
I have no desire to rehash the housing wars here, but having made housing most people’s primary savings vehicle has really fucked up the ability to build new housing which many places desperately need. Yes, she brings in all the other arguments, but as long as homeowners have a vested interest in the status quo*, we will continue to have a housing shortage.