When was the Federal Housing Administration (FHA) established?

The Federal Housing Administration (FHA) was established in 1934 as part of the National Housing Act. The main purpose of the FHA was to improve housing standards and conditions, provide an adequate home financing system through insurance of mortgage loans, and facilitate the construction of new homes in the wake of the Great Depression. By providing mortgage insurance, the FHA made it easier for individuals to access home loans, which stimulated the housing market and promoted homeownership across the United States.

The establishment year is significant because it reflects a time when the federal government was taking more active steps to stabilize and improve economic conditions, especially in the housing sector. This foundational event played a crucial role in shaping mortgage practices and home financing that continues to influence the real estate market today. The other years listed do not correspond to the founding of the FHA, making 1934 the only correct historical reference.