This is a real issue in my community (as is the case of pretty much every community). All the older homeowners and younger/middle aged middle class yuppies love to talk about how they care for the housing crisis for us poorer youth, but then anytime a plan to address it comes up it's all "muh property values, muh investment". It should be obvious to anyone that for the price to go down for buyers, the sellers must sell for less but they all want to sell absurdly high and then buy another home for low.
or we could just build affordable housing
I live in affordable housing recently built by my city. The houses around me are all still worth $800k and have not deprecated one penny since my place opened. Did see a few neighbors with anti-affordable housing signs in their yard last election so they're obviously still upset we exist here. Fuck those bougie assholes, we're just trying to live.
one trick homeowners hate: graffiti
Doesn’t matter whether it’s affordable housing or market-rate housing, any increase in housing stock will be against the interest of existing property owners (homeowners and landlords alike).
Some markets are so tight you can build housing forever without making a dent in the prices. Vancouver, B.C. or Boston for example.
Affordable housing on the other hand has a large enough impact on prices that building blitzes do bring down the cost of housing. Vienna, Austria is a good example.