Were land made into more of a liability the lobbying to inhibit development to keep land values up (zoning/nimbyism) would end up being pointless and would probably dry up.
Those SF homeowners who want to keep their area "single family homes only to preserve the feel of the area" are simply trying to inhibit development to keep the value of their leveraged investment stable.
Flip the switch to turn land into a financial liability and all that ends along with the land hoarding that has inhibited property development for decades.
It would have to be done nationally, though - and that would mean, among other things, deliberately crashing Bill Gates' agricultural land investments.