You're painting a picture of greedy homeowners restricting housing to make their investments go up. But there are other, more legitimate reasons for homeowners to resist turning every town into high-density mega-apartments. Some people highly value a quiet neighborhood. Some people (like myself) are extremely sensitive to the sounds of neighbors playing music with subwoofers. Good luck avoiding that in a high-density apartment (you'd need about 5 feet of solid concrete to damp out a loud subwoofer next door).
Sure, I'll go move out into the country. And others like me will do the same. And then soon people will start whining about how expensive it is to join us, because of the low population density, and how we ought to replace our houses with apartments...
