Housing Flashcards
CDGB Created
1974
Housing affordability
in 2002 median incomes of $30,000 to $56,000 could afford a home in the range of $78,000 to $317,000
Housing Affordability Index
Published by the NAR Score of 100 means that a family earning median income can purchase median home Below 100 means they can’t
Housing Act of 1934
Established FSLIC for insuring savings deposits and FHA for insuring individual home mortgages
Housing Act of 1937
Wagner-Steagall Created U.S. Housing Authority Allowed local housing authorities to determine housing needs and construct and operate low-rent housing and engage in slum clearance
Housing Act of 1937
Tied slum clearance to public housing Wagner-Steagall Act $500M in loans
Housing Act of 1949
Established the basis for Urban Renewal. Focus on slum clearance, urban renewal and new housing construction (initialed Urban Renewal). - Wagner-Ellender-Taft - First comprehensive housing bill -800,000 Units - Focused on slum clearance and urban renewal - financing for public housing. The first comprehensive housing legislation Designed to have a goal to construct 800,000 residential units Known as the Wagner-Ellender-Taft Bill
Housing Act of 1954
Established Section 701 planning grants to local govts. Allowed for fund to be use for comprehensive planning for communities less than 25,000. Expanded Urban Renewal; Instituted comprehensive housing and community redevelopment planning; Section 701 grants for planning in small communities–contributed to the establishment of local planning depts. Focused on slum prevention and urban renewal, rather than just clearance 140,000 new units, slum clearance & urban renewal FUNDING FOR COMPREHENSIVE PLANNING
Housing Act of 1959
Allowed for funds to be used for comprehensive planning for metro, state and regional levels. Made federal funds available for comprehensive planning at the metropolitan, regional, and state levels
Housing Act of 1964
- Relaxed FHA procedures to expedite FHA-insured mortgages - Section 312 provided federal funds for home rehabilitation Housing assistance for moderate-income households
Housing and Community Development Act (1974)
Instituted CDBG program
Housing and Community Development Act of 1974 - Section 8
Recipients pay only 30 percent of their income towards housing and federal government pays the rest Main program for housing assistance to low-income households
Housing and Community Development Act of 1992
Section 202 was expanded to include supply of affordable housing with support services for elderly
Housing and Urban Development Act (1965)
Created HUD; Robert Weaver first HUD secretary
Housing and Urban Development Act of 1968
New Communities Act, permitting funding for new towns Funding for 6 million subsidized units Required local government to develop housing plans