Coffman, Chad; Gregson, Mary Eschelbach - In: The Journal of Real Estate Finance and Economics 16 (1998) 2, pp. 191-204
Land owners in the rural Midwest experienced significant capital gains during the late 1840s and early 1850s. A primary catalyst of increasing land values was the construction of new railroads. Land in close proximity to new railroads became more valuable because of decreased transportation...