A real state bubble is an economic term that refers to the combined effect that is caused in the industry by a rapid increase of property values and an easiness of credit for potential buyers. This ultimately leads to a "burst" that results in a sharp fall of the value of properties, causing the average property buyer to default on its credit, as the value of the property is much less than the loaned money.
The land boom of 1920 was a real state bubble that occurred in Florida which lasted approximately 5 years. Urban zones such as Miami Springs, Coral Gables, and Miami Shores are a result of this land boom.
