It's actually land that appreciates, which is why we should have a high land value tax and eliminate this extremely awful incentive.
replyUltimately, lowering the value of their property.
replyIs this regularly true? IME, in Northern VA, land values have always increased with infill development. Thinking specifically of Arlington in the Courthouse/Ballston/Clarendon strip in the 90s and 00s. And now Reston.
Traffic and noise concerns might be legitimate, but I'm not buying the loss of value argument.
If there's enough demand to build denser housing near your house, and that's allowed, your land is automatically worth more.
replyIs it always true? More than once I heard fears about undesirables moving in, crime rate growing, the neighborhood "losing its character" that commands the high prices, etc. The resistance is real at some places.
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