Increasing housing supply does not decrease home values, because high density housing benefits from network effects/economies of agglomeration. NIMBYs don't object because they think their house will be worth less, they object because they believe their quality of life will go down (based on what is important to them).
Higher density brings both good and bad:
upside:
- high paying, specialized jobs
- specialized, high quality services
- stores open late
- better dating (more fish in the sea)
downside:
- more traffic
- more noise
- more pollution
- more anonymity, crime (people in small towns leave their doors unlocked and say hi on the sidewalk)
The people who benefit most from higher density tend to be young professionals, which tend to not currently live in the neighborhood and will move in if density goes up.
Higher density brings both good and bad:
upside: - high paying, specialized jobs - specialized, high quality services - stores open late - better dating (more fish in the sea)
downside: - more traffic - more noise - more pollution - more anonymity, crime (people in small towns leave their doors unlocked and say hi on the sidewalk)
The people who benefit most from higher density tend to be young professionals, which tend to not currently live in the neighborhood and will move in if density goes up.