Land buyers in florida who participated in speculation bought
expensive land, waited for the price to rise, and sold it for a loss.
cheap land, waited for the price to fall, and sold it for a profit.
expensive land, waited for the price to drop, and sold it for a loss.
cheap land, waited for the price to rise, and sold it for a profit.

Land buyers in Florida who participated in speculation bought cheap land, waited for the price to rise, and sold it for a profit.

Explanation:

The Florida land boom was a real estate boom that took place in the 1920s in the US state of Florida.

In the early 1920s Florida became popular as a living and recreational area. For this reason, substantial investments were made in land, hotels, homes and roads. Large land reclamation projects were set up over time. Parts of the Everglades (the wetlands in south Florida) were drained and artificial islands were built off the coast of Miami. When prices rose even further, even swamp areas that were not even at the sea or near a city were resold for big money. At the end of 1925 it went wrong and this real estate bubble burst.  

The boom did have a formative effect on the city of Miami and the surrounding area and shaped it into what it is today.

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