This is sort of true, but confused, because it's land that has value, not housing, and the value of land increases when it's upzoned. [0]
[0] It's of course not increased when government unilaterally constructs low-income housing without reference to market conditions, which is why it's important to assure homeowners that this is not what upzoning entails.
There is land, there is housing, and then there is who lives there. Some people bring value, some people take it away. Naturally the people who bring value get to keep some of it, as they can chose to bring it elsewhere if they don’t.
I'm not american but if most people in America can right now classify as low income (paycheck to paycheck) then open up the floodgates on low-income housing everywhere?
"Paycheck to paycheck" is not an official term or (to be frank) even a meaningful one. The fact is that Americans are extraordinarily wealthy and by no reasonable measure are "most" of them "low income."
[0] It's of course not increased when government unilaterally constructs low-income housing without reference to market conditions, which is why it's important to assure homeowners that this is not what upzoning entails.