It sure does, but you haven't bought the private environment around your property and therefore should have no right to dictate its use by its actual owners.
If someone is doing you legitimate harm, like dumping toxic waste into your drinking water, then you have the public government than can dictate the rights in regard to private use on the toxic waste dumper on behalf of the public. Increasing housing supply in an area with high demand is not doing legitimate harm, it keeps housing affordable and is good for the environment vs. infinite sprawl.
If someone is doing you legitimate harm, like dumping toxic waste into your drinking water, then you have the public government than can dictate the rights in regard to private use on the toxic waste dumper on behalf of the public. Increasing housing supply in an area with high demand is not doing legitimate harm, it keeps housing affordable and is good for the environment vs. infinite sprawl.