Presentation on theme: "During the Great Depression of the 1930s, thousands of farmers faced foreclosure. In the early 1930s, prices of the corn dropped so low that many farmers."— Presentation transcript:
During the Great Depression of the 1930s, thousands of farmers faced foreclosure. In the early 1930s, prices of the corn dropped so low that many farmers went bankrupt and lost their farms.
The storms literally buried farmhouses and equipment, forcing people to flee. Many workers and farmers migrated from the plains into California.
They traveled to the west hoping to find a job in the fertile agricultural fields of California. Migrants wandered from place to place, living in tents or in the car. Although they were not all from Oklahoma people in America called them “Okies”.
In 1934, President Franklin D. Roosevelt persuaded Congress to pass additional measures, such as the Farm Mortgage Refinancing Act and the Farm Mortgage Foreclosure Act. These laws helped farmers and workers get through the Great Depression.
The Housing Market began to bust in 2008. December 30, 2008 was largest price drop of houses.
In between 2007 and early 2012, 4 million families lost their homes to foreclosure. When the economy dropped, many Americans lost their jobs, and also lost their homes because they were unable to pay their mortgage.
Millions of people found themselves in homes worth less than their mortgage. They were unable to sell or refinance. House foreclosurse also helped in speeding up falling property values.
The Congress made a program to help people to prevent foreclosures called the Helping Families Save Their Homes Act. But there are still today 2.5 million Americans who are at the risk of losing their homes.
Works Cited 1. “The Great Depression Hit Farms and Cities in the 1930s”, Iowa Pathway, Tom Morain, @2005-2012 Iowa Public Television. 2. “The Dust Bowl” Gale Encyclopedia of U.S. History Government and Politics. Detroit: Gale, 2009 Gale Student Resources In Context. Web.15 May. 2012. 3. “Commentary on 1934” The Constitution and Supreme Court. Woodbridge CT: Primary Source Media, 1999. American Journey Gale Student Resources. In Context. Web.15 May. 2012. 4.Http://www.Poxneus.com/politics/2012/10/14/record-number-foreclosures-face- challe nge-court/ 5. Http://www.pbs.org/newshour/extra/features/economics/July- Dec10/foreclosure_10-22html/