| 1937 |
U.S. Housing
Act of 1937 |
| 1965 |
Department
of Housing and Urban Development Act of 1965 creates HUD as Cabinet-level
agency. |
| 1966 |
Robert C.
Weaver becomes the first HUD Secretary, January 18. |
| 1968 |
Riots in major
cities follow assassination of Dr. Martin Luther King Jr. Civil
Rights Act of 1968 (also known as the Fair Housing Act) outlaws
most housing discrimination, gives HUD enforcement responsibility.
Housing Act of 1968 establishes Government National Mortgage Association
(Ginnie Mae) to expand availability of mortgage funds for moderate
income families using government guaranteed mortgage-backed securities. |
| 1969 |
Robert C.
Wood receives recess appointment as HUD Secretary, January 7.
George C. Romney is appointed HUD Secretary by President Richard
M. Nixon, January 22. |
| 1970 |
Housing and
Urban Development Act of 1970 introduces Federal Experimental
Housing Allowance Program and Community Development Corporation. |
| 1972 |
Pruitt-Igoe
public housing buildings in St. Louis are demolished. |
| 1973 |
President
Nixon declares moratorium on housing and community development
assistance. James T. Lynn becomes HUD Secretary, February 2. |
| 1974 |
Housing and
Community Development Act consolidates programs into Community
Development Block Grant (CDBG) program. Section 8 tenant-based
certificates increase low-income tenants' choice of housing. Gerald
R. Ford becomes president following Nixon's resignation. |
| 1975 |
Carla A.
Hills is appointed HUD Secretary, March 10. |
| 1977 |
Patricia R.
Harris is appointed HUD Secretary by President James E. Carter,
January 23. Urban Development Action Grants (UDAG) give distressed
communities funds for residential or nonresidential use. |
| 1979 |
Moon Landrieu
becomes HUD Secretary, September 24. Inflation hits 19 percent,
seriously impacting home buying and home mortgage loans. |
| 1980 |
Depository
Institutions' Deregulation and Monetary Control Act of 1980 changes
rules governing thrift institutions, expands alternative mortgages. |
| 1981 |
Samuel R.
Pierce Jr. is appointed HUD Secretary by President Ronald W. Reagan,
January 23. Interest rates for FHA-insured mortgages peak at 15.17
percent (up from 7 percent in 1972). |
| 1983 |
Housing and
Urban-Rural Recovery Act of 1983 begins Housing Development Action
Grant and Rental Rehabilitation programs. |
| 1987 |
Stewart B.
McKinney Act sets up programs to help communities deal with homelessness. |
| 1988 |
Indian Housing
Act gives HUD new responsibilities for housing needs of Native
Americans and Alaskan Indians. Housing and Community Development
Act allows sale of public housing to resident management corporations.
Fair Housing Amendments Act makes it easier for victims of discrimination
to sue, stiffens penalties for offenders. |
| 1989 |
Jack F. Kemp
is appointed HUD Secretary by President George W. Bush, February
13. Financial Institutions' Reform, Recovery, and Enforcement
Act bails out failing thrift institutions. |
| 1990 |
Cranston-Gonzalez
National Affordable Housing Act emphasizes home ownership and tenant-based
assistance, launches HOME housing block grant. Low-Income Housing
Preservation and Residential Home ownership Act of 1990 fortifies
Federal commitment to preservation of -assisted low-income, multifamily
housing |
| 1992 |
Federal Housing
Enterprises' Financial Safety and Soundness Act of 1992 creates
HUD Office of Federal Housing Enterprise Oversight to provide
public oversight of FNMA and Federal Rome Loan Mortgage Corporation
(Freddie Mac). |
| 1993 |
Henry G. Cisneros
is named Secretary of HUD by President William J. Clinton, January
22. Empowerment Zone and Enterprise Community program becomes
law as part of the Omnibus Budget Reconciliation Act of 1993. |
| 1995 |
"Blueprint
for Reinvention of HUD" proposes sweeping changes in public
housing reform and FHA, consolidation of other programs into three
block grants. |
| 1996 |
Home ownership
totals 66.3 million American households, the largest number ever. |
| 1997 |
Andrew M.
Cuomo is named by President Clinton to be Secretary of Housing
and Urban Development, the first appointment ever from within
the Department. |
| 1998 |
HUD opens
Enforcement Center to take action against HUD-assisted multifamily
property owners and other HUD fund recipients who violate laws
and regulations. Congress approves Public Housing reforms to reduce
segregation by race and income, encourage and reward work, bring
more working families into public housing, and increase the availability
of subsidized housing for very poor families. |
| 2000 |
America's
home ownership rate reaches a new record-high of 67.7 percent in
the third quarter of 2000. A total of 71.6 million American families
own their homes - more than at any time in American history. |
| 2001 |
Mel Martinez,
named by President George W. Bush to be Secretary of Housing and
Urban Development, is unanimously confirmed by the U.S. Senate
on January 23, 2001. |
