Alabama real estate bubble of the 1810s

The Alabama real estate bubble of the 1810s was a real estate bubble centered on Huntsville, caused by increasing cotton prices resulting from demand from English textile manufacturers, relatively high cotton yields in Alabama, as well as general speculation. In 1817, property in Madison County sold for around $2 per acre, while in 1818 it sold for $7.40 per acre on average, with some tracts reportedly sold "at prices ranging from $20 to $78 per acre," at a time when land on the American frontier was sold for $2 per acre.

Source: Wikipedia — Alabama real estate bubble of the 1810s (CC BY-SA 4.0)