Boomtowns: Local Shocks and Inequality in 1920s California

Sarah Quincy and Rowena Gray

AEA Papers and Proceedings, 2022, vol. 112, 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.

JEL-codes: D31 D63 N32 N92 R23 R31 (search for similar items in EconPapers)
Date: 2022
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Working Paper: Boomtowns: Local Shocks and Inequality in 1920s California (2022)
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DOI: 10.1257/pandp.20221080

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