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| Long title | AN ACT To encourage improvement in housing standards and conditions, to provide a system of mutual mortgage insurance, and for other purposes |
|---|---|
| Enacted by | the 73rd United States Congress |
| Citations | |
| Public law | Pub. L. 73–479 |
| Statutes at Large | 48 Stat. 1246 |
| Legislative history | |
| |
The National Housing Act of 1934, H.R. 9620, Pub. L. 73–479, 48 Stat. 1246, enacted June 27, 1934, also called the Better Housing Program,[1] was part of the New Deal passed during the Great Depression in order to make housing and home mortgages more affordable.[2] It created the Federal Housing Administration (FHA)[3] and the Federal Savings and Loan Insurance Corporation (FSLIC).[4]
The Act was designed to stop the tide of bank foreclosures on family homes during the Great Depression. Both the FHA and the FSLIC worked to create the backbone of the mortgage and home building industries, until the 1980s.[5]
These policies had disparate impacts on Americans along segregated lines :
Author Richard Rothstein says the housing programs begun under the New Deal were tantamount to a "state-sponsored system of segregation."
The government's efforts were "primarily designed to provide housing to white, middle-class, lower-middle-class families," he says. African-Americans and other people of color were left out of the new suburban communities — and pushed instead into urban housing projects.[6][7]
The Housing Act of 1937 built on this legislation.
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National Housing Act 1935
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Federal Acts Related to Fair Housing | Real Estate Exam Prep
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"207 COMES TO TOWN" 1938 MINNEAPOLIS, MINNESOTA NEW DEAL HOUSING PARKLAKE DEVELOPMENT XD50374
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References
- ^ Hyman, Louis (March 2009). "The Architecture of New Deal Capitalism". Reviews in American History. Johns Hopkins University Press. 37 (1): 93–100. doi:10.1353/rah.0.0073. S2CID 143487255.
- ^ Buescher, John. "Home Sales During the Depression". Teachinghistory.org. Retrieved September 23, 2011.
- ^ "1934: Federal Housing Administration Created". www.bostonfairhousing.org.
- ^ Dragonette, Laura (May 25, 2016). "Federal Savings And Loan Insurance Corporation (FSLIC)".
- ^ "Housing: After 50 Years, The Heydey Is Over". The New York Times. March 29, 1981.
- ^ "A 'Forgotten History' Of How The U.S. Government Segregated America". NPR.org. Retrieved April 1, 2021.
- ^ Rothstein, Richard (2017). The color of law : a forgotten history of how our government segregated America (First ed.). New York. ISBN 978-1-63149-285-3. OCLC 959808903.
{{cite book}}: CS1 maint: location missing publisher (link)
External links
- National Housing Act as amended (PDF/details) in the GPO Statute Compilations collection
- Public Law 73-479, 73d Congress, H.R. 9620, National Housing Act of 1934
This page was last edited on 15 March 2024, at 02:01