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The great depression had an interesting effect on "poor people." As the stock market crashed, those who bought on margin and could not pay debts had to sell assets like a home or car. Just like in all depressions and recession, inflation goes down. This means that the value of a dollar goes up. Many people lost homes and jobs because of lowered production. This cause more people to become "poor" and widened the gap between the rich and poor. In short, it did not affect poor people as much as rich people because poor people did not get hit by the Stock Market crash.

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11y ago
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10y ago

Many poor people became destitute and homeless during the Great Depression. They created communities make of card board shacks known as Hoovervilles.

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Q: How did the Great Depression affect the poor people?
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