during the depression forclosed rates skyrockted? what was the main cause?

It seems there might be a slight confusion in your question. If you are referring to the Great Depression of the 1930s, the foreclosure rates did indeed increase significantly during that period. The main causes of the surge in foreclosures during the Great Depression were complex and interconnected economic factors:

1. Economic Downturn:

• The Great Depression was marked by a severe and prolonged economic downturn. Widespread unemployment, a sharp decline in industrial production, and a collapse in agricultural prices contributed to financial hardships for many individuals and families.

2. Bank Failures:

• The banking sector was severely affected during the Great Depression, leading to numerous bank failures. As banks collapsed, individuals lost their savings, and many homeowners faced the inability to meet mortgage payments.

3. Dust Bowl and Agricultural Crisis:

• The agricultural sector was hit hard by a combination of factors, including the Dust Bowl phenomenon in the central United States. Poor agricultural practices and severe drought conditions led to widespread crop failures, forcing many farmers into foreclosure as they couldn't repay their loans.

4. Deflation and Falling Home Values:

• The economy experienced deflation, causing a general decrease in prices. While this may seem beneficial, it had a negative impact on homeowners who saw the value of their homes decline. As home values fell, many found themselves owing more on their mortgages than their homes were worth.

5. Unemployment and Income Loss:

• High levels of unemployment and income loss meant that a significant portion of the population struggled to make mortgage payments. The inability to secure steady employment made it difficult for individuals and families to keep up with financial obligations.

6. Tightened Credit Markets:

• During the Depression, credit markets tightened considerably. Banks, grappling with financial instability, became more reluctant to extend credit or renegotiate loan terms, making it challenging for homeowners facing difficulties to find relief.

7. Limited Government Intervention:

• In the early years of the Depression, there was limited government intervention to address the housing crisis. Government relief programs, such as the New Deal initiatives, were introduced later in the 1930s to address some of the economic challenges, including housing issues.

The combination of these factors contributed to a sharp increase in foreclosure rates during the Great Depression. The housing crisis was one of the many facets of the broader economic challenges faced by individuals and families during this tumultuous period in American history.