Land that could be bought for $800,000 could, within a year, be resold
for 4 million before crashing back down to pre-boom levels. The prices were
so inflated that to buy a condo-style property in XXXX, you would've had to pay the same as you would now
have to pay for a luxury home in the guard-gated communities in Miami
($4,500,000)—without adjusting for inflation!
Via Florida Real Estate Bubble from The Mess That Greenspan Made: Money Magazine on “Cashing
Out”, The Florida
Real Estate Craze
This is not a speculative article “written” from the perspective of say,
2011, but is instead about a real estate bubble that actually happened in the
state of Florida a while ago.
How long ago?
The $4,500,000 price, adjusted for inflation, would be $494,500,000—nearly
half a billion dollars today.
Too bad for the gentleman that actually spent $4,500,000 dollars back in
1926 for the property.
You have my permission to link freely to any entry here. Go
ahead, I won't bite. I promise.
The dates are the permanent links to that day's entries (or
entry, if there is only one entry). The titles are the permanent
links to that entry only. The format for the links are
simple: Start with the base link for this site: https://boston.conman.org/, then add the date you are
interested in, say 2000/08/01,
so that would make the final URL:
https://boston.conman.org/2000/08/01
You can also specify the entire month by leaving off the day
portion. You can even select an arbitrary portion of time.
You may also note subtle shading of the links and that's
intentional: the “closer” the link is (relative to the
page) the “brighter” it appears. It's an experiment in
using color shading to denote the distance a link is from here. If
you don't notice it, don't worry; it's not all that
important.
It is assumed that every brand name, slogan, corporate name,
symbol, design element, et cetera mentioned in these pages is a
protected and/or trademarked entity, the sole property of its
owner(s), and acknowledgement of this status is implied.
