The families of Middle Class Americans had enjoyed the prosperity, ostentation and conspicuous consumption of the Roaring Twenties that fostered a belief that they were better than others. The wages of the middle class were more than double those of the poor. Hard times hit many Middle class families as debts accumulated through 'Margin Loans' had to be repaid immediately. Loans on 'easy credit', for various consumer goods such as automobiles or refrigerators, still had to be repaid. Numerous small banks collapsed and people lost their life savings. Family homes in comfortable 6-8 roomed houses had to be sold to cover debts and back taxes. Those that managed to keep their houses could no longer afford electricity. And servants had to be dismissed adding to the rising unemployment figures.
