Answer:
Farmers who had borrowed money to expand during the boom (the time of rapid economic growth) couldn't pay their debts. As farms became less expensive, land value decreased, too, and farms were mostly worth less than their owners owed to the bank. Farmers across lost their farms as banks foreclosed on mortgages. They had great suffering.
Step-by-step explanation:
"NCPedia" website, but I used my own words.