ABSTRACT
This chapter provides a history of federal involvement in housing, presenting a generalized chronological account of key roles, programs, and outcomes of federal participation. It discusses how American cultural norms and political ideologies distinguish the involvement of the United States federal government in housing from that of central governments in other countries of the world. The depth and breadth of the crisis overcame any public hostility to federal involvement in housing—in fact, federal leadership and action was viewed as the only approach capable of countering the wide-reaching economic catastrophe. The voucher is a commitment from the federal government to pay the landlord the portion of the rent that exceeds 30 percent of the tenant's monthly income. The federal response to soaring foreclosures included homeowner financial counseling programs and refinancing initiatives to help homeowners stay in their homes.
