Final answer:
During the Great Depression, the majority of the Dust Bowl farmland was purchased by large eastern banks after local banks collapsed and foreclosed on the farms, with many farmers losing their homes and livelihoods leading to mass migration from the Great Plains.
Step-by-step explanation:
During the Great Depression, the Dust Bowl devastated farmlands in the Great Plains, leading to economic hardship for farmers. As a result of a combination of environmental disaster and the economic downturn, many farms faced foreclosure due to the inability of farmers to pay their mortgages or make a living off the land. When local banks in rural areas failed, larger eastern banks often acquired these mortgages. These large banks, less invested in the dynamics of farming life, were more likely to foreclose on the farms when farmers could not meet their payments. Consequently, large banks and financial institutions ended up purchasing the majority of the farmland during this period.
During these times, farmers were severely impacted, having not only to give up their land but often their homes as well, as most farms were mortgaged. The aftermath of bank foreclosures led to over 400,000 people leaving the Great Plains in search of better opportunities in places like California, although many found hardship and discrimination instead of the better life they sought.