jun 27, 1934 - Housing Act of 1934

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President Franklin Roosevelt signed the National Housing Act into law. The law created the Federal Housing Administration and the Federal Savings and Loan Insurance Corporation as part of a broader attempt to revive the housing market during the Great Depression. The FHA standardized the 30-year, low-interest mortgage, spurring a post-war housing boom in which national home ownership rate jumped to almost 70 percent of households and more and more Americans moved to suburbs.

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