answersLogoWhite

0

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.

User Avatar

Wiki User

12y ago

Still curious? Ask our experts.

Chat with our AI personalities

RafaRafa
There's no fun in playing it safe. Why not try something a little unhinged?
Chat with Rafa
FranFran
I've made my fair share of mistakes, and if I can help you avoid a few, I'd sure like to try.
Chat with Fran
JordanJordan
Looking for a career mentor? I've seen my fair share of shake-ups.
Chat with Jordan
More answers

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

User Avatar

Wiki User

10y ago
User Avatar

Add your answer:

Earn +20 pts
Q: How did the Great Depression affect the poor people?
Write your answer...
Submit
Still have questions?
magnify glass
imp