The details of a program to enlarge and improve the opportunities for our
people to acquire good homes will be presented to the Congress by special
message on January 25.
This program will include:
Modernization of the home mortgage insurance program of the Federal
Government;
Redirection of the present system of loans and grants-in-aid to cities for
slum clearance and redevelopment;
Extension of the advantages of insured lending to private credit engaged in
this task of rehabilitating obsolete neighborhoods;
Insurance of long-term, mortgage loans, with small down payment for
low-income families; and, until alternative programs prove more effective,
Continuation of the public housing program adopted in the Housing Act of
1949.
If the individual, the community, the State and federal governments will
alike apply themselves, every American family can have a decent home.