Florida Land Boom
About Florida Land Boom
A real estate bubble in Florida in the 1920s. Land that sold for 800 per acre was flipped for 20,000 per acre within months. Miami Beach was created from mangrove swamps. Speculators bought land they had never seen, using maps with no connection to reality. The bubble burst in 1926 when a major hurricane destroyed buildings and killed 400 people. The crash wiped out fortunes. The Florida Land Boom demonstrated the pattern of speculative bubbles: easy credit, belief in permanently rising prices, and sudden collapse. It foreshadowed the 2008 housing crisis.
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