I’m not saying to ignore the loss, I am saying to limit people’s ability to use the government to protect their asset value by mandating what others do with their property. In my view too many municipalities treat decrease in asset values like a kind of pollution that leaks from your property into the surrounding spaces, and use that logic to force certain uses of people’a property. But unlike physical pollutants that leave properties, the decrease in property value is often a nebulous and subjective force, and enforcement boils down to enforcing conformity with the majority. The harms are nebulously defined and the slope is so slippery that you have neighborhoods where they have slid all the way into mandating color pallets and lawn type and length.

This kind of system doesn’t let people do something as simple as postpone repairs until they can get favorable financing, and ends up a tax on the poor or different to protect an asset for the majority landowners in my view.