Housing Act of 1934

The Housing Act of 1934 was a law in the United States that aimed to improve urban living conditions by providing federal assistance for housing development. It established the Federal Housing Administration (FHA) to insure loans for homebuyers and builders, making it easier to finance construction and rehabilitation of homes. The act also promoted slum clearance and urban renewal to make cities safer and healthier. Overall, it sought to increase affordable housing options, stabilize housing markets, and support economic growth by encouraging responsible lending and investment in housing.