Wasn't this model a reason for the decline of the US public transit system? I remember reading somewhere that in cities like LA, transit companies build little

Wasn't this model a reason for the decline of the US public transit system? I remember reading somewhere that in cities like LA, transit companies build little frequented lines to properties they themselves developed, just to drive house prices up. After the properties were sold, the companies lost interest in maintaining the lines, and the system quickly deteriorated.