[AnthonyMouse]

> As a Bay Area single-family home owner, I do not see how I am benefiting from increased housing prices. I have lived in my home for almost 10 years and expect to live in it for another 20. I don't rent it out or derive any income from it. My home is not a "money source".

Most people buy a larger house while raising a family, then sell it for a smaller one after the kids grow up. The increase in price funds much of their retirement. (This is basically a pyramid scheme, but when the population actually looked more like a pyramid than it does now, it mostly worked. This is now breaking down but a lot of people haven't accepted that yet.)

Moreover, even while you continue to live in your house, having more equity allows you to take out a home equity loan to e.g. send your kids to college.

> I'd oppose a 100 unit high-rise apartment being built next door to me not because of housing prices, but because there'd be 100 more cars on my street which is made for far fewer. There'd be 100 more noisy neighbors partying at all hours. There'd be 100 more kids in my daughter's already overcrowded school. I'm not a real estate investor. I don't care about supply and demand and market prices and all that crap.

Nobody is saying that there shouldn't exist single family homes. The problem is that the landscape is covered in them and we need to convert some percentage of that land into higher density housing. You may not like that to be your house, but take consolation in the fact that if it is, the value of your land will increase significantly (because someone will want to buy it and put up a high rise), and then you can take the money and buy a different single family home in an area still zoned for lower density. And have hundreds of thousands of dollars left over to use for whatever you want as compensation for your trouble, because a single family home in the area still zoned for lower density won't cost you as much as you got for your existing one which is now zoned for higher density.

[theklr]

The 100 units don’t have to come with 100 cars, if we fixed parking demands and appropriately fund public transportation we could allow more travel with less single occupant vehicles.

[dev_dull]

> The increase in price funds much of their retirement.

What increase in price? Your “profits” were simply transferred to the other home owners profits. To extract real benefit you need to move out of state which is not what a lot of people want to do.

[AnthonyMouse]

> What increase in price?

The increase in the value of the land when it's rezoned.

Suppose you have a house currently worth $500K because it's only zoned for single family homes. Rezone that area for higher density and developers could be willing to pay you $700K or more for the land so that they can build a dozen condos on it, sell them for $300K each and get back $3.6M. It's worth more after the rezoning because they weren't allowed to do that with the land before.

Then you take your $700K, buy a $500K home similar to your original one in an area still zoned for single family homes and have $200K left over for whatever you like. Or maybe you have $300K left over because you only have to pay $400K for that single family home once there is less housing scarcity because there are now lots of new condos ten miles down the road where you used to live.

[danans]

I think in the example the people in question move into a much smaller, hence cheaper house, and use the difference to fund their retirement.