Calomiris, Charles W.; Jaremski, Matthew S. - National Bureau of Economic Research - 2023
Florida land boom of the mid-1920s, the U.S.' first housing boom in which buyers from around the nation participated …. Estimates suggest that an astounding 20 million lots were offered for sale in Florida at that time. Our detailed narrative and … all actors behaving with "bounded rationality." We find that most Florida banks that failed were associated with the …