The Housing Act of 1934

The Housing Act of 1934 was a significant U.S. law aimed at boosting the housing market during the Great Depression. It established the Federal Housing Administration (FHA), which helped people get mortgages by providing insurance to lenders against defaults. This made home loans more accessible, encouraging home buying and construction. The act also promoted better housing standards and initiated federal support for low-income housing. Overall, it aimed to stabilize the housing market and promote economic recovery by making homeownership more attainable for average Americans.