Answered

What was the long-term effect of speculation on Florida?

A. Many people could no longer afford to live there.
B. Investors moved to the state permanently.
C. Residents' wages grew to keep up with rising rents.
D. The government taxed property and income at high rates.



Answer :

GinnyAnswer

Final answer:

Speculation in Florida led to a housing bubble, financial instability, and an economic downturn.


Explanation:

Speculation in Florida led to a housing bubble due to factors like rising home prices, low interest rates, and risky lending practices such as subprime mortgages. This bubble eventually burst, causing many people to no longer afford to live in Florida as real estate prices plummeted, leading to a housing crisis. The long-term effect of speculation on Florida was that it resulted in financial instability, housing market collapse, and economic downturn.


Learn more about impact of speculation on Florida here:

https://brainly.com/question/33931431