1923: Sacramento boomed during the 1920s with the sounds of jackhammers, cranes and other construction equipment, as this April 28, 1923, Bee article points out:
Sacramento stood second in the list of cities of the United States in the per capita valuation of building permits in 1922 and in comparison with the building program of 1921 the valuation increased from $71 to $136.
Only one city in the United States surpassed Sacramento in the valuation of building permits per capita. This was Los Angeles, which had a valuation of $190.00. ... It is hard to find any specific cause which has brought about the disparity in the per capita value of building permits in the cities under consideration.
Among the possible causes we may mention the relative demand for residential, office and other buildings; the character and quality of new buildings; the variation in the prevailing methods of financing buildings; the rates of interest charged on building loans; and the modes and degree of severity of taxes.