[_doctor_love]

Your argument makes sense until you have a horrible neighbor. You can see it in action in a state like Montana which to my knowledge prohibits housing covenants. Want to park 12 cars that are rusting in your front yard? Do it! Neighbors can't do anything about it. But that does have the effect of lowering property value and degrading the neighborhood.

[Loughla]

There is a WILD difference between commercial properties coming in to residential areas and a neighbor with rusty cars.

I'll happily live next to rusty car guy. I would rather eat glass than have to live near a data center.

[DANmode]

You may be confusing Montana with a much-worse place.

Or confusing with State law preventing homeowners' associations (HOAs) from enforcing new covenants that restrict the use of your property, compared to what was allowed when you originally purchased it.