Correct. YIMBYs believe that the root cause of high housing costs is a lack of supply and support policies to allow more housing to be built near places where they themselves live to reduce housing costs. For example, a core YIMBY position would be that single-family zoning is bad because it limits the the production of affordable apartments, and so a developer who wants to build an apartment building in a single-family zoned area should be allowed to do so.

This has become a byword for a certain kind of guy that the original poster refers to. For the record, I am in fact a straight white guy who rides a bike who moved from NYC, but the bike is 11 years old and it cost $600 at the time.