American Institute of Certified Planners (AICP) Practice Exam

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In what year was the Home Owners Loan Corporation established?

1932
1933
1934
1935

The correct answer is: 1933

The Home Owners Loan Corporation (HOLC) was established in 1933 as part of the New Deal programs launched during the Great Depression. The purpose of the HOLC was to provide relief to homeowners who were struggling to meet their mortgage payments due to the economic downturn. By offering long-term, low-interest loans, the HOLC aimed to prevent foreclosures and stabilize the housing market. This initiative played a significant role in reviving the housing sector and helping families retain their homes during a time of economic crisis.