CDs vs. NIMBY

Bryan Caplan argues that while streaming technology destroyed the value of his $40,000 CD collection, he actually benefits enormously from access to unlimited music, resulting in a net gain despite the capital loss. He uses this example to challenge NIMBY logic about housing deregulation, suggesting that homeowners who oppose it because their property values would decline overlook the offsetting gains they'd enjoy from cheaper housing for upgrades, downgrades, rentals, and their children's future.