Florida's 1920s land bubble collapsed three years before Wall Street's did

Buyers didn't even need to complete a purchase to profit — they traded 'binder' contracts on Florida lots for a small deposit, flipping them for quick gains as prices doubled and tripled. The boom ran out of steam by 1926, then a direct hit from the Great Miami Hurricane wrecked the coast and finished it off. Many of the lots being resold on paper were still swampland that had never been built on.

— Frederick Lewis Allen, Only Yesterday: An Informal History of the Nineteen-Twenties — 1931, chapter on the Florida land boom
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