1. Overproduction and Falling Prices: The expansion of agriculture in the Great Plains led to a glut of wheat and other crops on the market. This resulted in plummeting prices, making it increasingly difficult for farmers to earn a profit. They were often forced to produce more just to make ends meet, perpetuating the cycle of overproduction.
2. Drought and Dust Bowl: The Great Plains is naturally prone to drought, and a severe drought in the 1930s, exacerbated by unsustainable farming practices, led to the Dust Bowl. The lack of rain turned the topsoil into dust, which was blown away by strong winds, destroying crops and making farming impossible. This devastating event caused widespread crop failures and forced many farmers to abandon their land.
3. Debt and Foreclosure: Farmers often took out loans to buy land, equipment, and supplies. When prices fell and droughts hit, they were unable to repay their loans. Banks foreclosed on farms, leaving many families homeless and destitute. The lack of government support during this period also contributed to the problem, as banks were largely allowed to foreclose without much interference.
These problems combined to create a perfect storm of economic hardship for Great Plains farmers, ultimately forcing many of them to lose their farms.