Correct, although many municipalities (like Boulder, CO) have ridiculous zoning laws such that you can't make multi-story apartment complexes. So the choice for developers is just single family suburbia
Single family zoning has become the norm in most of the United States. It's so broken. Even simple duplexes or quad-plexes are not allowed in most single-family zones.
Homeowners benefit because it drives up the prices of homes, which has become one of the most important financial investment tools to normal people in this country.
