Final answer:
The Florida land boom was marked by rampant real estate speculation in the 1920s, ending due to negative publicity, IRS investigations, and a railroad embargo, with the Great Miami Hurricane of 1926 delivering the final blow.
Step-by-step explanation:
The Florida Land Boom of the 1920:
The Florida land boom from 1920 to 1925 was characterized by rapid speculation and development of Florida real estate. Driven by the euphoria of the prosperous 1920s and aggressive marketing that painted Florida as a tropical paradise, investors flocked to the state. People bought property, often sight unseen, with money they mostly did not have, aiming to resell at higher prices. However, the boom ended due to several factors:
- Negative press that highlighted the speculative nature of the investments.
- IRS investigations into dubious financial practices of several land brokers.
- A railroad embargo that hindered the delivery of essential construction supplies.
The final blow came with the Great Miami Hurricane in 1926, which left many developers bankrupt. Following the bust, speculation persisted in the stock market until its dramatic crash in 1929.