Florida Real Estate: The Great Boom of the 1920s
In American history the adjective used to describe the 1920s is known as the “Roaring” twenties. During the decade Florida had its own adjective used to describe the real estate market known as the “Land Boom”. The Florida land boom of the 20s was Florida’s first big real estate bubble. During the great land boom of the 20th century Florida saw tens of thousands of Americans flood to the state to move or purchase land. By looking at the how this development of real estate began, who was affected, and how the “Boom” became a soft clap by the end of the decade one can see the immediate impact this event had on the United States.
Florida in the early 1920s was the “focus of one of the greatest
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This is where the concept of “welfare capitalism came into effect. Welfare capitalism is defined as the practice of business providing health, happiness, and fortune services to their employees. Americans that were fortunate enough at the time to have an education and were among the skilled working class were offered paid vacations, pensions, and benefits (FLORIDA IN THE LAND BOOM OF THE 1920’S). This type of leisure played a key role in the Land Boom. Families and individuals of the middle aged, middle class America were travel for vacations or simply to escape the harsh winter climate in the north thanks to the automobile. The invention of the automobile gave citizens the means to travel greater distances in considerably less time. Another key factor that came into play was politics. The Florida government played a key role to the success of the Land Boom, this type of cooperative government gave investors and travellers the easy access to purchase land with great incentive. President Warren G. Harding promoted lower taxes and greater business prosperity at a nation level (FLORIDA IN THE LAND …show more content…
Property prices soared; a parcel of land in the early 1920s could be bought for $1,700 and by 1925 could reach up to $300,000 (Colombo). By buying parcels of land and holding on to it until the market reached astronomical rates and selling one could change their fortunes with minimal effort. Most of the individuals who were purchasing the land had not even stepped foot in the state and instead used a type of real estate agent known as a “Binder Boy”. These men and women would show the land to prospective buyers and if sold would accept a “binder” on the sale (Florida’s Land Boom). A binder is a fee paid by the landowner to the seller for a percentage of the sale. Due to the buying and selling of the land and a high rate it was during this time that many vacation destinations were created. The land developers began to emerge as the dominant tycoons of the state. They began to develop not just buildings, bridges, and hotels but they began to develop cities. They became known throughout the world as creating the “Florida Lifestyle” (FLORIDA IN THE LAND BOOM OF THE 1920’S); the developers of the 1920s today created many of the attractions in Florida. These attractions like Miami Beach, Mangrove Island Causeway, Temple Golf Resort, and the University of Miami were all built during the land boom of the 1920s. “These developers who made the name Florida synonymous with palm trees and beaches… made Florida the place to
The Transportation Revolution in the 1800s, sparked up industrialization and the building of railroads that stimulated every other industry causing an economic boom known as the Gilded Age. From the outside, America seemed like the place to go to make all your dreams come true. But in reality, in was an era of serious social problems mainly caused by an economy with a free market policy, low tariffs, low taxes, less spending, and a hands-off government. This type of economy would eventually lead to the development of monopolies. These monopolies would then, in turn, lead to worker uprisings ‒caused by the suppression of unions created mostly by unskilled workers‒ that would contribute to the rapid rise and downfall of America. An example of this suppression is the Homestead Strike of 1892; due to hostility created by the unions, the employer fired all the workers, and rehired them on the basis that there would not be any more unions. After the workers started working again, the conditions were still unbearable, so the workers shut down the facility. The police got involved, the workers were pushed back, and the facility was reopened union free.
Post Civil War, America was looking for new opportunities to become a stronger and more efficient nation. Though reconstruction collapsed, they took the opportunity of the Manifest Destiny to gain the territories of the Louisiana Purchase and the Mexican-American War and settle the west. With this expansion, it provided numerous opportunities for the people to gain success alongside the nation. The gold rush caused an increase in immigration that brought more people to the newly flourishing nation, and allowed the west coast to become settled as well as help the economy from the new wealth. The land that was gained in the Louisiana Purchase provided the Great Plains, where pioneers settled and ranching operations were run. Though it sadly pushed away the native tribes who originally lived there, throughout the gilded age the government has tried to return to them their land and rights – and gives them reparations today. All of which provided a basis to the American dream that gave the opportunity for a better life to many people. Towns and economy was...
During the 1920’s, many political issues were prominent within the United States, particularly within the federal government. Several problems included those regarding immigration, the eighteenth and nineteenth amendments to the constitution, and scandals, including the Teapot Dome Scandal. These specific topics contributed to the title, “The Roaring Twenties”, and also ultimately led into a depression.
Transportation advances began a unification process across the country, both economically and culturally (Roark, 262). The United States finally started to take advantage of the natural resources of the land to benefit the economy. By having water powered equipment, the growth of factories mushroomed, but at the same time, caused a great issue with working conditions and the employment of women. Financing new ventures became an important facet during the market revolution. America’s money supply grew considerably, which led to increased investment opportunities.
Florida's agricultural production greatly increased during World War I and resulted in a real estate boom during the 1920's.
Economically, industries in America erupted with new opportunities for individuals to thrive, however, leaving many farmers and workers in the dust. At this time, cheap labor was in high demand and those willing to accept it were mostly composed of immigrants. Furthermore,
The space program and NASA has influenced Florida’s growth, economics, and culture. According to the film it says, “New buildings in every category, such as hospitals. Schools, like Satellite High School” (Part 9). This shows that the growth of Florida as well as their economics has been affected or influenced. Hospitals were built which could have brought in more
In the 1920s welfare capitalism took place and this was good news for the working class because working conditions began to improve. Wages started to increase and the hours in a work day were shortened. Instead of working ten hours a day employees worked eight hours and if they wished to work more than eight hours that day they received pay for working overtime. Also they now worked five days a week instead of six and there were benefits available. There was this belief in the workforce that if employers made their workers happy then things will be better for everyone. Meaning no labor unrest or raids, however the wages that the workers were getting were not enough to keep with the rising prices of goods. A lot of the time employers wanted their workers to buy from their stores, which had prices that were unreasonably higher than other places.
The bureaucratization of business in the 1920’s meant that more people could be employed in higher paying white-collar jobs than before, including, for the first time, housewives. This new income combined with the reduced prices for goods that resulted from mechanized production, assembly lines and a general decrease in the cost of technology created a thriving consumerist middle class that went on to fuel the economy in all sectors, especially the upper classes. Likewise, during World War II Americans saved up around 150 billion dollars, and this sum combined with the income of the GI Bill allowed normal people to buy expensive things, from houses to cars to electronics to education at a rapid rate, fueling the trademark prosperity of the 1950’s. The new automobile culture of the 50’s spawned new businesses that catered to mobile Americans, such as nicer and more standardized hotels like Holiday Inn, and drive-up restaurants like McDonalds. Just as the culture of the 1920’s was transformed by modernist ideas, the world of the 1950’s was reinvigorated by the introduction of the automobile to the middle class....
Natural resources were one of the main causes of the boom. America at the time was packed full of natural resources, and they were making full use of this. Oil & gas industries were thriving which had various effects such as enabling the use of the car and the...
Florida became a state in 1845 and almost immediately people began proposing to drain the Everglades. In 1848, a government report said that draining the Everglades would be easy, and there would be no bad effect. Canals and dams were dug to control seasonal flooding. Farmers grew vegetables in the rich soil of the drained land, Ranchers had their cattle graze on the dry land, and new railways lines were constructed to connect communities throughout south Florida; but the ecosystem of the Everglades was not suited for either farming or ranching. The natural cycle of dry and wet seasons brought a devastating series of droughts and floods. These had always been a p...
It was the best of times, it was the worst of times, it was the age of production, it was the age of destruction, it was the epoch of nativism, it was the epoch of racism, it was the season of skepticism, it was the season of anti-communism, it was the spring of gain, it was the winter of loss – in short, it was the 1920's. Indeed, the decade of the 1920s was a truly “roaring” and prosperous time, but at the same time, it was a period of chaos and conflict. The events that happened during this decade influenced the world as we know it today. More importantly, the thought that the 1920’s was an era of major change in the United States, both positive and negative, is indeed fascinating and it deserves thorough examination.
The twenties were a time of economic boom, but this boom would end in a crash. It was a good time to be an American, but it only lasted so long. The stock market crash was a blow to the American economy that would not easily be healed.
Archaeological research indicates that Florida had been inhabited for thousands of years before any European settlements. Of the many indigenous peoples, the largest known were the Ais, the Apalachee, the Calusa, the Timucua and the Tocobago tribes. Juan Ponce de León, a Spanish conquistador, named Florida in honor of his discovery of the land on April 2, 1513, during Pascua Florida, a Spanish term for the Easter season (Juan Ponce de León may not have been the first European to reach Florida; according to one report, at least one indigenous tribesman who he encountered in Florida in 1513 spoke Spanish.[6]). From that date forward, the land became known as "La Florida" , although from 1630 until the 19th century Tegesta (after the Tequesta tribe) was the name of choice for the Florida peninsula following publication of a map by the Dutch cartographer Hessel Gerritsz in Joannes de Laet's History of the New World.[7]
money to purchase large amounts of land and houses august enough for the property. This land ownership propelled some nouveaux