Why are we consulting real estate speculators and economists on housing costs and community development, as seen at the recent UCSB Economic Forecast for Santa Barbara County? We should consult biologists, social scientists, financial experts, and ordinary residents.
Considering the apparent conflict of interest when involving individuals like Rick Caruso, Gene Deering, and Peter Rupert in community development is essential. While they may have valuable insights, their roles as real estate speculators and economists bias their perspectives. This is particularly true for the first two, who stand to profit from further private market property development, which could influence their recommendations.
Economics is not a deterministic science; it's a highly politicized philosophy. Economic theory has so far failed to produce a single useful tool that can reliably predict anything. Peter Rupert, in fact, is on record stating that he cannot make useful predictions.