Boomtowns: Local Shocks and Inequality in 1920s California
- (pp. 209-13)
Abstract
As the United States economy grew in the 1920s, both wealth and income inequality rose as well. California land values were especially volatile as a variety of shocks buffeted the state. This paper summarizes how these local booms affected housing inequality by linking archival data on city property values to the full count 1930 census. I first characterize the relationship between the type of shock and city property values during the 1920s. Then I relate these real estate market swings to the occupational and housing distribution within and across cities in 1930.Citation
Quincy, Sarah, and Rowena Gray. 2022. "Boomtowns: Local Shocks and Inequality in 1920s California." AEA Papers and Proceedings, 112: 209-13. DOI: 10.1257/pandp.20221080Additional Materials
JEL Classification
- D31 Personal Income, Wealth, and Their Distributions
- D63 Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- N32 Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: U.S.; Canada: 1913-
- N92 Regional and Urban History: U.S.; Canada: 1913-
- R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics
- R31 Housing Supply and Markets