Florida's 1920s land boom transformed the state's economy and demographics. Fueled by post-war prosperity, improved transportation, and aggressive marketing, the boom brought rapid population growth and urban development to the Sunshine State.

The subsequent bust, triggered by oversupply and natural disasters, had lasting consequences. It led to stricter urban planning, economic diversification, and environmental awareness, shaping Florida's development for decades to come.

Economic Factors and Population Growth

Factors of Florida land boom

• Post-World War I economic prosperity sparked rising disposable incomes and increased leisure time
• Technological advancements enabled widespread automobile ownership and improved road networks (Dixie Highway)
• Florida's natural attractions lured visitors with warm climate and pristine beaches (Miami Beach)
• Marketing and promotion utilized aggressive advertising campaigns by real estate developers and celebrity endorsements (Carl Fisher)
• Speculation and easy credit fueled by low down payments and interest-only loans fostered a get-rich-quick mentality among investors

Impact of 1920s land boom

• Rapid population growth brought influx of new residents and seasonal visitors, shifting demographics in age and socioeconomic status
• Urban development spurred creation of new planned communities (Coral Gables) and expansion of existing cities and towns
• Infrastructure improvements accelerated road construction and expansion of utilities and public services
• Economic diversification boosted construction and real estate industries, expanded tourism and hospitality sectors
• Social and cultural changes increased population diversity and developed new entertainment and leisure activities (golf courses)

Bust and Long-Term Consequences

Causes of Florida land bust

• Oversupply of real estate resulted from excessive speculation leading to inflated property values
• Natural disasters like 1926 Miami hurricane caused extensive damage to property and infrastructure
• Transportation issues emerged with railway embargoes limiting flow of building materials and congested ports and roadways
• Economic factors tightened credit by northern banks and culminated in stock market crash of 1929
• Consequences included plummeting property values, widespread foreclosures and bankruptcies, exodus of population, and stalled development projects

Long-term effects on Florida

• Urban planning and zoning regulations implemented stricter building codes and more comprehensive land-use planning
• Economic diversification reduced reliance on real estate and tourism, developed agriculture (citrus) and manufacturing sectors
• Infrastructure legacy left lasting impact of roads, bridges, and buildings from boom era, laying foundations for future urban growth
• Environmental awareness recognized need for conservation efforts, established state parks and protected areas (Everglades National Park)
• Cultural and architectural heritage preserved Art Deco and Mediterranean Revival architecture, influencing Florida's unique cultural identity
• Financial regulations implemented stricter lending practices and increased oversight of real estate transactions