[aidenn0]

There were about a half-dozen new homes that went up in my neighborhood last year. The odds of them having any measurable effect on property values are near zero, but lots of people complained because the houses were architecturally different from what was there, and above average square-footage for the neighborhood.

I've seen people spend 15 years tying up renovations for a church in the courts.

I heard of another case not too far from me where someone assaulted a neighbor because they didn't like the new (very modernist) front porch remodel.

I think a large fraction of NIMBYism is a reflexive pushback against any change to the area in which one lives.

[edit]

FWIW, I also have no doubt that there are investors who intentionally stoke those emotions to get favorable policies.