The economic boom of the 1920s and speculation in the real estate market fostered a wave of new skyscraper projects in New York City. The Chrysler Building was built as part of an ongoing building boom that resulted in the city having the world's tallest building from 1908 to 1974. Following the end of World War I, European and American architects came to see simplified design as the epitome of the modern era and Art Deco skyscrapers as symbolizing progress, innovation, and modernity. The 1916 Zoning Resolution restricted the height that street-side exterior walls of New York City buildings could rise before needing to be setback from the street. [a] This led to the construction of Art Deco structures in New York City with significant setbacks, large volumes, and striking silhouettes that were often elaborately decorated. Art Deco buildings were constructed for only a short period of time; but because that period was during the city's late-1920s real estate boom, the numerous skyscrapers built in the Art Deco style predominated in the city skyline, giving it the romantic quality seen in films and plays. The Chrysler Building project was shaped by these circumstances.