During the Roaring Twenties era people had the time of their lives. The husband would go off to work and earn money for the family as the woman stayed home and cleaned the expensive house or took care of the children. A house in the twenties had to most expensive and new things and gadgets making life easy. When the depression hit families had to sell everything they had. Families moved to Hoovervilles and lives in dumps compared to their previous homes. They couldn’t afford the fancy things they had in their old homes and now had to work and struggle to earn enough money for food. African Americans had to sell all of their land from sharecropping and moved North. African Americans suffered even more than whites because even in hard times, segregation still existed.
During the 1920s the American economy was doing great. Businessmen and industrialists were flourishing and people loved the idea of credit. The stock market and stockbrokers were doing well as almost everyone in America had invested in stock. People were abusing credit and buying too many stocks too fast. The banks were loaning out more money than they had. When the value of stocks dropped, people panicked and sold their stocks which made the value drop further. When people went to withdraw money from their saving accounts the bank did not have any money to give them because they loaned it all to other investors who lost all of their money so they couldn’t pay back the loans. The economy went downhill from there. Farmers had it rough as well. In the 1920s crop prices dropped and farmers had no money. Then in the 1930s dust storms formed and destroyed the land leaving them with nothing except piles of dirt and sand.