That is highly dependent on what exactly is being built next to your home. Sure, if it's more luxury housing then it'll probably drive the value of your home up. If it's low-income housing then it probably won't. And what we need is more of the latter rather than the former.
> you can take out loans against the value of the equity but this isn’t particularly common.
It's because it's an investment, you're going to get the return once you finally sell your home. Only in a pinch if someone needs a large amount of money to start a business or pay for an emergency will they mortgage their house.
You just need to wait. The luxury housing that gets built today becomes low-income housing as it ages. There's no short-circuiting that process the way the incentives are set up, but you can drive down prices across the board by building more, even more luxury housing.
The home you live in isn't an investment; it's a store of wealth.
Many lives were ruined by thinking your primary home is an investment.
