There was a substantial RE bubble in the 1920’s, most of it concentrated in Florida. (The old sayings about “buying swampland in Florida” originated during this time.)
Speculation was easy-and quick. No long delays while titles were being investigated and deeds recorded; such tiresome formalities were postponed. The prevalent method of sale was thus described by Walter C. Hill of the Retail Credit Company of Atlanta in the Inspection Report issued by his concern: “Lots are bought from blueprints. They look better that way […]”
Credit was loose back then also, but I don’t think there was government backing. Just classic reckless speculation.
The US has had a number of real estate bubbles throughout its history. But until this century, all the real estate bubbles were local. This was the first time that a real estate bubble went national.
I would highly recommend reading the latest edition of “Irrational Exhuberance”, by Robert Shiller. The book does a great job of analyzing speculative bubbles and it contains a lot of info about the history of real estate in the US.
The US has had a number of real estate bubbles throughout its history. But until this century, all the real estate bubbles were local. This was the first time that a real estate bubble went national.
I would highly recommend reading the latest edition of “Irrational Exhuberance”, by Robert Shiller. The book does a great job of analyzing speculative bubbles and it contains a lot of info about the history of real estate in the US.
The US has had a number of real estate bubbles throughout its history. But until this century, all the real estate bubbles were local. This was the first time that a real estate bubble went national.
I would highly recommend reading the latest edition of “Irrational Exhuberance”, by Robert Shiller. The book does a great job of analyzing speculative bubbles and it contains a lot of info about the history of real estate in the US.
The US has had a number of real estate bubbles throughout its history. But until this century, all the real estate bubbles were local. This was the first time that a real estate bubble went national.
I would highly recommend reading the latest edition of “Irrational Exhuberance”, by Robert Shiller. The book does a great job of analyzing speculative bubbles and it contains a lot of info about the history of real estate in the US.
The US has had a number of real estate bubbles throughout its history. But until this century, all the real estate bubbles were local. This was the first time that a real estate bubble went national.
I would highly recommend reading the latest edition of “Irrational Exhuberance”, by Robert Shiller. The book does a great job of analyzing speculative bubbles and it contains a lot of info about the history of real estate in the US.
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