U.S. Department of Housing and Urban Development - 1930-2010

U.S. President
HUD Secretary
Home Ownership
Community Development
Herbert Hoover Franklin D. Roosevelt      
  1932 Federal Home Loan Bank Act 1933 Homeowner Refinancing Act National Industrial Recovery Act of 1933 1934 National Housing Act U.S. Housing Act of 1937  
  1933 Homeowners Loan Corporation (HOLC) Formed 1932 Home Loan Bank Board and Bank System Created 1934 FHA Created 1937 Public Housing Administration 1938 FNMA Chartered
HOLC provides privatized mortgage refinancing   1934 FHA 203 and Title I FNMA (provides secondary market for FHA)  
  1934 Multifamily Insurance Section 207 1934 Public housing, low rent   Public Housing Construction
(60-year loans)
Great Depression      
    Harry S. Truman    
      U.S. Housing Act of 1949
  1942 National Housing Agency formed 1947 Housing and Finance Agency Formed 1949 Urban Renewal Administration
  1942 Residential construction halted except for war housing. FHA prioritized for war housing: Section 607 and 608 FNMA expanded to cover VA loans 1947 FHA insurance for manufactured housing  
        Urban Renewal
    Public housing construction expanded  
World War II
1942 Federal Rent Control   1949 VA Home Loans, Farmers Home Administration Section 502
  Dwight D. Eisenhower      
    U.S. Housing Act of 1954    
  FHA for disasters, rehab, co-ops, urban renewal areas, displaced low-income, military    
Urban Renewal   1954 Urban Renewal Expanded; Urban Planning Grants 1955 Public Facility Grants    
  Multifamily insurance and direct loans expanded    
  1953 Federal Rent Control ends   1959 Section 232 FHA Insurance for nursing homes Section 202 Direct Loans
John F. Kennedy Lyndon B. Johnson     Richard M. Nixon
Robert C. Weaver       Robert C. Wood George W. Romney
  Department of Housing and Urban Development Act of 1965 1966 Model Cities Act   HUD Act of 1968 1968 Fair Housing Act
1965 HUD Created     1968 GNMA Created FNMA privatized
    1964 Section 312 Direct Rehab Loans Section 115 SF Rehab Grants Section 235 FHA subsidized mortgages  
1961 Open Space Grants   1965 Rehab Grants in Urban Areas: Water and Sewer Grants 1966 Model Cities Grants – coordinate Federal grants in urban areas 1968 New Communities
1961 Section 221(d)(3) BMIR and Direct Loans   1965 Section 23 Leased Housing 1967 Public Housing scattered site, turnkey modernization 1966 Rent Supplement 1969 Brooke Amendment 1968 Section 236 1% Mortgage IRP
Section 515 USDA Multifamily Program REITs authorized     1968 Section 242 Hospital Insurance
    Gerald R. Ford Jimmy Carter  
  James T. Lynn Carla A. Hills Patricia R. Harris Moon Landrieu
1970 Emergency Home Finance Act   Housing and Community Development Act of 1974 Housing and Community Development Act of 1977 Housing and Community Development Act of 1978
  1973 Nixon Moratorium on HUD Programs   1978 Neighborhood Reinvestment Corporation 1978 IG Act
Urban Homesteading   FHA Graduated Payment Mortgages and Section 223(F) Refinancing 1975 Emergency Homeowners Relief    
  1974 CDBG 1977 UDAG  
1970 Experimental Housing Allowance 1973 Subsidized Housing Moratorium Public Housing Operating Subsidies expanded; Section 8 project-based (LMSA and NC/SR); and Section 8 Existing Housing (tenant-based)   1978 Flex Sub Mod Rehab 1978 Mod Rehab created 1979 Federal Preferences
1972 Operation Breakthrough 1972 Lead Paint Research 1973 PD&R 1974 RESPA 1975 HMDA 1977 CRA Manufactured Housing Standards  
Ronald Reagan       George Bush
Samuel R. Pierce, Jr.       Jack F. Kemp
1983 Housing and Urban Recovery Act   1987 McKinney Act 1989 Fair Housing Amendments Act 1989 HUD Reform Act
    1987 Interagency Council on Homelessness  
Section 203(K) FHA: ARMs; SAMs (Shared Appreciation); Indexed Mortgage Insurance   1987 Nehmiah
  1982 State CDBG Program   1989 UDAG Terminated
1981 Brooke Amendment = 30% of Income 1983 HODAG Rehab Development Grants Section 8 NC/SR terminated Section 8 Voucher Demonstration Program Voucher Program authorized 1986 Multifamily Coinsurance 1987 ELIHPA Preservation Drug Elimination Program 1989 HODAG Terminated 1989 MF Coinsurance terminated
  1983 RESPA Amendments LIHTC Emergency Shelter Grants Supporting Housing Section 8 SRO   1988 FHIP
  William J. Clinton      
  Henry G. Cisneros   Andrew M. Cuomo  
1990 National Affordable Housing Act (Cranston-Gonzalez) 1992 Housing Community Development Act 1993 GRPA   Native American Housing Assistance and Self Determination Act of 1996 1997 MAHRA Market to Market 1998 Public Housing Reform Act (CHWRA)  
  1992 OFHEO    
FHA Single Family Reform HOME Program, HOPE I-III   Homeownership Zones FHA SF Accelerated Disposition and Asset Control Areas  
1992 YouthBuild 1993 EZ/EC    
1990 HOME Program 1990 LIHPRHA Preservation Mod Rehab terminated 1992 MTO 1993 HOPE VI FHA MF Risk Sharing 1995 MTW 1996 Indian Housing Block Grant 1997 Mark to Market 1998 Public Housing Reform; voucher and certificate merger  
Section 811 HOPWA Shelter Plus Care; Section 202 Capital Grants 1992 GSE Affordable Housing Goals Section 154 Indian Housing Loan Guarantees Lead Paint Abatement Grants    
George W. Bush       Barack Obama
Mel Martinez   Alphonso Jackson Steve Preston Shaun Donovan
American Homeownership and Economic Opportunity Act of 2000 2000 Community Tax Relief Act   Housing and Economic Recovery Act of 2008 American Recovery and Reinvestment Act of 2009 HEARTH Act
  FHA Hybrid ARM ADDI Home Value Collapse and Foreclosure Crisis FHA Modernization  
Renewal Communities Sustainable Communities Initiative   Neighborhood Stabilization Program (NSP) I NSP II Sustainable Communities Initiative
    Housing Trust Fund  
Manufactured Housing Consensus Committee New Markets Tax Credit   New RESPA final rule issued TARP Helping Families Save Their Homes Act of 2009

Timeline Graphs

Population Millions
Interest Rates Percent
Housing Starts Thousands

the 1930s

Amidst widespread unemployment and financial collapse resulting from the 1929 stock market crash, Congress passed the Emergency Relief and Construction Act of 1932, creating the Reconstruction Finance Corporation (RFC) and authorizing loans to private corporations providing housing for low-income families. As the Great Depression eased somewhat and the prospect of improved financial status for individual families increased, the National Housing Act of 1934 was passed to relieve unemployment and stimulate the release of private credit in the hands of banks and lending institutions for home repairs and construction. This law also created the Federal Housing Administration (FHA), the main federal agency handling mortgage insurance. The FHA's assumption of risk, through its insurance programs, made possible the amortization of mortgage loans with regular monthly payments and a secondary market for home mortgages, thus freeing up funds for home loans. In 1937, the Federal National Mortgage Association (Fannie Mae) was chartered by the FHA as a subsidiary of the RFC. These early measures stimulated housing construction, and the United States Housing Act of 1937 authorized loans to local public housing agencies for lower-rent public housing construction expenses.

More about the 1930s

As the Great Depression eased somewhat and the prospect of improved financial status for individual families increased, the National Housing Act of 1934 was passed to relieve unemployment and stimulate the release of private credit in the hands of banks and lending institutions.
America's Great Depression is regarded as having begun in 1929 with the Stock Market crash and ending in 1941 with America's entry into World War II.
The increase in housing construction following World War II, led to the growth of suburban areas and to new housing programs for declining urban areas authorized by the Housing Act of 1949.
Following World War II, and continuing into the early 1970s, "urban renewal" referred primarily to public efforts to revitalize aging and decaying inner cities, although some suburban communities undertook such projects as well.
Federal involvement in housing rapidly expanded to include financing of new construction, preservation of existing housing resources, and urban renewal.
The Housing and Urban Development Act of 1965 created HUD as a cabinet-level agency and initiated a leased housing program to make privately owned housing available to low-income families.
HUD's Office of Policy Development and Research (PD&R), created in 1973, was tasked with conducting research on priority housing and community development issues.
The 1980s saw significant measures to ensure housing opportunities for all with new rental programs, Low-Income Housing Tax Credits, and changes in rules governing thrift institutions.
Crises characterized the 1990s, much of which related to the cost of expiring Section 8 contracts and deteriorating properties.
HUD worked with public agencies, private partners, nonprofit, faith-based, and community organizations to expand the availability of affordable housing, to improve structural and living conditions in HUD-insured and assisted rental housing projects, to promote wider affordable rental housing opportunities, and to stabilize and sustain communities.