It's An Investment And A Consumption Good

I think it's wrong to assume that NIMBYism is entirely, or even largely, motivated by a simplistic desire to maintain or increase property values. Homes aren't just investments, they're also consumption goods, and by choosing a particular neighborhood people have expressed a preference to live in a particular type of neighborhood. I'm sure increasing allowable buildings heights or re-zoning to allow commercial uses would increase property values in many parts of DC by a significant amount, but many residents would still oppose that because they want their neighborhood to be the way it is.