Building Costs and Home Renovation

Archive Report

Federal Effort to Stimulate Tepair of Homes

The Home Renovation Campaign of the Federal Housing Administration, at present getting under way, is expected to put idle capital to work, add to the comforts of the people, revive the construction industry, and thus to act as a powerful stimulus to recovery. A minimum of federal funds are to be used, the hope of the administration being that a 20 per cent guarantee by the government against loss will make the extension of credit for building improvements attractive to private financial institutions. The National Housing Act, which established the Housing Administration and authorized the home renovation program, was signed by President Roosevelt on June 27, 1934.1 The act was described by its sponsors as “the last link ...

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