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What caused the housing boom/bust of the mid-1890s?

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ashleycsmith85 posted on Thu, Feb 10 2011 1:34 PM

I was reading Doug French's book about the housing collapse and came across the Shiller graph showing historical home values. I'm a self-taught student of economics and don't have the background that others might. I wanted to pick the brains of the Mises community on the housing spike/collapse of the 1890s and what you believe caused it. From the brief research I've been able to do, it seems attributable to the era of bank nationalization starting in the 1860s, and I feel that there are probably correlations to currency regulation and the rise and creation of Checking Accounts throughout the 80s and 90s, though I don't know exactly how checking accounts were used at the time. Anyone have any context that I can use to build my understanding of that time period or point me to any research or books? I know Rothbard probably wrote about it in at least one of his, but I'm not sure where. 

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