During the 1920's there was a housing boom. Three-fourths of the
housing created during the 1920's was marketed to households in
the top one-third of the economy -- none of these boom houses
were sold to the poorest third of the nation's families.
Some historians draw analogies between the current economic conditions
and those of the 1920's. Middle and upper income wealth increased
rapidly at the same time low income families lost economic ground.
Despite these economic realities there was an assumption by some
1920's political leaders that the prosperity enjoyed by the middle
and upper classes would soon reach down to the poor.
Home of an affluent Texas families built in the 1920's. (photo: Institute of Texan Cultures)
Home of a low income Houston family. (photo: National Archives)
President Herbert Hoover. (photo: National Archives)
President Herbert Hoover declared during his 1928 election campaign,
"The poorhouse is vanishing from among us. We have not yet reached
that goal, but given a chance to go forward with the policies
of the last eight years, we shall soon with the help of God be
in sight of the day when poverty will be banished from this nation."
Home of a San Antonio family in 1920's. (photo: Institute of Texan Cultures)
Houses on the near-east side of Fort Worth. (photo: National Archives)
Low income family's home in Fort Worth. (photo: National Archives)