Friday, June 2, 2023

 World War 2 era America was a time of massive upheaval in the residential construction industry. During the war, nearly 1 million people migrated to defense areas to work at munitions plants, shipyards, naval bases, and other areas of wartime production. 

Between 1945 and 1952, "the Veterans Administration backed nearly 24 million home loans for World War II veterans," according to a VA web site. The GI Bill helped boost U. S. home ownership from 44% in 1940 to 62% in 1960.

The GI Bill aided more than veterans and their families. It fueled a boom in the local building industry -- after the federal government removed wartime restrictions on building materials in October 1945.

Under the GI Bill, veterans who served at least 90 days, or who were injured or disabled while on duty and had been honorably discharged, were eligible for a mortgage of up to 100% of the cost of a new home. The GI Bill was supplemented by the Veterans Emergency Housing Act of 1946 and subsequent legislation. State legislatures also responded, enacting a variety of measures beneficial to veterans housing.

https://sites.google.com/a/lanepl.org/columns-by-jim-blount/2016-articles/housing-not-unemployment-major-concern-when-world-war-ii-veterans-returned-home

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