Florida, state, United States: Land Booms

Land Booms

In 1881 Florida sold 4,000,000 acres (1,618,800 hectares) of land to real-estate promoters. Northern capitalists such as Henry M. Flagler built railroads and hotels, and Florida began to develop. The drainage of the N Everglades, begun in 1906, precipitated one of the state's periodic land booms. Because of environmental degradation due to farming these drained lands, areas are now being restored to their natural state. The most famous of Florida's land booms started after World War I and reached its peak in 1925 when land values achieved fantastic heights, only to collapse completely the following year.

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