In the very long term, yes a large plot of land in a densely-constructed city would be extremely valuable. In the short and medium-term though, the downward price pressure of increased supply outweighs the upward price pressure of amenity effects.[1][2][3]
Very few NIMBYs will openly admit to wanting to maintain their property values because it's a much less noble sounding cause than "preserving the character of the neighborhood" or whatever.
I looked at the cited papers and accept the presented economic dynamics. But I still do not accept that it is a predominant motivation for why people are nimby.
When I talk to my neighbors, I just do not get a sense of “oh yeah this dude is actually trying to maximize land value”. I see people just trying to have a decent life and raise a family.
All these comments that allude to “quiet part out loud” or whatever seriously sound like conspiracy theories to me. Call me naive, but the folks in my neighborhood are not a cabal of real estate moguls. Though, yes, some are nimby
Very few NIMBYs will openly admit to wanting to maintain their property values because it's a much less noble sounding cause than "preserving the character of the neighborhood" or whatever.
1. https://research.upjohn.org/cgi/viewcontent.cgi?article=1334...
2. https://blocksandlots.com/wp-content/uploads/2020/02/Do-New-...
3. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3867764