National Housing Act of 1934
National Housing Act
§ LEGISLATIONhousing· 1934
What It Did
Created the Federal Housing Administration (FHA) to insure mortgage loans, making homeownership accessible to millions by reducing down payment requirements and extending loan terms. Established the framework for the modern American mortgage market.
The Vote
House · 380–12 (passage)
D
285 YEA · 4 NAY
R
95 YEA · 8 NAY
Senate · 72–4 (passage)
D
54 YEA · 2 NAY
R
18 YEA · 2 NAY
Key Sponsors
→ Henry B. Steagall (D-AL) · House
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Manufacturing Employment
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Industrial Production Index
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.