It was designed to stop the tide of bank foreclosures on family homes. Both the FHA and the Federal Savings and Loan Insurance Corporation worked to create the backbone of the mortgage and homebuilding industries. Some unintended consequences were that it did little to improve inner city housing, it intensified segregation of races, and further promoted the single family detached dwelling as the prevailing mode of housing, which furthered the phenomenon of suburban sprawl.
The Housing Act of 1937 builds on this legislation.
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