The California Cargo Cult Shilling for Real Estate Speculators
The California Cargo Cult Shilling for Real Estate Speculators Dick Platkin, CityWatchLA , September 24, 2020 PLANNING WATCH -The South Pacific cargo cults are gone, but we have plenty of modern cults, and the one I regularly encounter is the Supply-and-Demand cult. Like the Cargo Cult, (photo above: Mock Cargo Cult P-52 airplane built on Melanesian Island) which built mock airplanes to lure back the riches left by Japanese and Allied flyers during WWII, our modern cultists imagine that zone changes are the market magic the will create real estate fortunes. It will not only make investors and their champions rich, but also solve the worsening housing crisis and turn car habituated Angelenos into regular bus and subway riders. We can dismiss the Cargo Cults as an imaginative effort by Neolithic communitie...