If the homevoter hypothesis is true then the counterargument to this is just the argument itself. Property taxes cool speculation, but I'm me, and I bought into the neighborhood and thus want to see line go up.
Yes, local politics is inherently more tailored, but it's also more vulnerable to conflicts of interest. Most local town councils are controlled by an oligopoly of the loudest homeowners who will vote down anything that is perceived to impact their home prices. The people who want affordable housing are not part of the voting quorum because they do not live or own the neighborhood.
In other words, don't say the quiet part out loud!
Yes, local politics is inherently more tailored, but it's also more vulnerable to conflicts of interest. Most local town councils are controlled by an oligopoly of the loudest homeowners who will vote down anything that is perceived to impact their home prices. The people who want affordable housing are not part of the voting quorum because they do not live or own the neighborhood.
In other words, don't say the quiet part out loud!