Respuesta :
Answer:
More expensive land resulted due to land boom and sudden increase in population.
Step-by-step explanation:
Given:
A land boom in Florida 1920s,
Solution:
In 1920 the population was about nearly 9 lac and in only about 5 years
rise up to 13 lac. Due to following reasons:
- After the end of WW1 , most people had a time and money to spent on vacation,to invest in real estate.
- At that time there were people called as land speculators which buys land at cheap price and sale them in high margin profits.\
3.New Railways were constructed to join New york and Florida and laws were passed to support the land boom.
But they passed problem during land boom because of sudden increase in demand of railway streams and the building materials.
Hence, The land price suddenly stop growing and many land speculators could not sell the land on high prices.
Thousands of acres land get overpriced ,but there were no buyer ,no one wanted to buy land in hot summer too.
