Bringing new units online in a high demand market earns far more money than simply raising rents.
It's not large property owners that are opposing new housing, it's existing small (usually single) property owners opposing new housing, usually so their way of life doesn't change due to changing demographics of newcomers, increased traffic, etc. and possibly to restrict supply and increase their property's value.
It's not large property owners that are opposing new housing, it's existing small (usually single) property owners opposing new housing, usually so their way of life doesn't change due to changing demographics of newcomers, increased traffic, etc. and possibly to restrict supply and increase their property's value.