Two wrongs don't make a right, boys....
If you are betting on the next 25 years, how can ANYONE be SURE that it will be BETTER than the past 15 years? Get real.
Glendale is not the only city in the US that was guilty of overbuilding. That is what happens when you live beyond your means: It catches up with you. Many places in the US are stuck with empty buildings. What makes Glendale (a place that is already saddled with heavy debt) any different?
The best predictor of future behaviour is past behaviour...and it becomes even easier to predict future behaviour when you charge more money!