The Swamp Peddlers: How Lot Sellers, Land Scammers, and Retirees Built Modern Florida and Transformed the American Dream

In the 1950s, the installment land sales industry in Florida allowed working-class pensioners to buy residential property sight unseen for $10 down and $10 a month, leading to the creation of sprawling exurban communities with no downtowns and little industry. However, this came at a price, with high-pressure sales tactics, fraud, poor urban planning, and developers clearing forests and draining wetlands, which played a role in the 2008 subprime mortgage crisis.

Format: Hardback
Length: 272 pages
Publication date: 21 June 2021
Publisher: The University of North Carolina Press

Florida has long been a desirable destination for retirees seeking to enjoy the sun in their golden years, however, the American dream of owning a home in the state was often out of reach for many. This changed in the 1950s when the installment land sales industry emerged, offering northerners the opportunity to buy billions of dollars of Florida residential property sight unseen. For just $10 down and $10 a month, working-class pensioners could purchase a graded homesite in a planned community, with the promise that their dream home would be waiting for them when they were ready to build. The result was the creation of numerous sprawling exurban communities, such as Cape Coral, Port St. Lucie, Deltona, Port Charlotte, Palm Coast, and Spring Hill, which boasted millions of residential lots but lacked downtowns and significant industrial activity.

In his book, Jason C. Vuic delves into the history of these communities, highlighting the ways in which they allowed generations of northerners to move to Florida cheaply but at a significant cost. High-pressure sales tactics led to fraud, poor urban planning resulted in sprawl, and developers cleared forests, drained wetlands, and constructed thousands of miles of roads in grid-like subdivisions. These actions played a significant role in the 2008 subprime mortgage crisis, as many of the homes built in these communities were purchased by unsuspecting buyers who were unable to afford the loans they were taking out.

The installment land sales industry was a controversial one, with critics arguing that it preyed on vulnerable northerners who were desperate to escape the cold winters and enjoy the sunshine of Florida. However, proponents of the industry argued that it provided an affordable way for working-class people to own a piece of the American dream and that it helped to stimulate the economy of the state. Despite its flaws, the installment land sales industry had a lasting impact on Florida and the country as a whole, shaping the landscape of many communities and contributing to the ongoing debate over affordable housing and urban development.

Weight: 533g
Dimension: 235 x 155 (mm)
ISBN-13: 9781469663159