During and after the Great Depression the roles of the government changed tremendously. Before the Great Depression the federal government did little to nothing to help citizens. The government thought that, helping people out didn’t seem like the governments job. But once the Depression hit in the 1930’s all of that changed. During and after the depression the U.S needed some serious help to get the economy up and running again. To get out of the depression the federal government would have to come up with a program that, could create jobs, and to get the banks up and running again. The name of the program is the New Deal.
In 1933, Franklin D. Roosevelt created the New Deal to get the United States up and running again. During the depression, …show more content…
For most Americans having a home is ideal. But during the Depression all that went downhill. During the depression, the stock market crashed which means the banks also went downhill as well. Once the banks went down so did homeowner ship. One of the reasons homeowner ship went down was because of the mortgage system. One of the letter to the Roosevelts says “Thank you very much for helping me to keep my house. If it wasn’t for you I know I would have lost it…I will never you and will always pray for you and your family. I went to the Home Loan and they said everything would be all right”. This letter informs the Roosevelts just how hard it was to have homeownership over their house. During the Depression families were not able to get a job, so no income was coming in, which means foreclosure. During this time seeing foreclosure signs were not that rare, and seeing people on the streets. The New Deal wanted to prevent this from happening, which is why the Home Owners Loan Act was created. The government played a huge role with this act as well. The government sponsored homeowner ship. Being sponsored by the government means the government likes the act, as well as backed by the government money. In other words, the government is 100% behind this. The government wanted to help families to keep their homes which is why the Homeowner ship is in the New
In 1933, Franklin D. Roosevelt created the New Deal to get the United States up and running again. During the depression, …show more content…
For most Americans having a home is ideal. But during the Depression all that went downhill. During the depression, the stock market crashed which means the banks also went downhill as well. Once the banks went down so did homeowner ship. One of the reasons homeowner ship went down was because of the mortgage system. One of the letter to the Roosevelts says “Thank you very much for helping me to keep my house. If it wasn’t for you I know I would have lost it…I will never you and will always pray for you and your family. I went to the Home Loan and they said everything would be all right”. This letter informs the Roosevelts just how hard it was to have homeownership over their house. During the Depression families were not able to get a job, so no income was coming in, which means foreclosure. During this time seeing foreclosure signs were not that rare, and seeing people on the streets. The New Deal wanted to prevent this from happening, which is why the Home Owners Loan Act was created. The government played a huge role with this act as well. The government sponsored homeowner ship. Being sponsored by the government means the government likes the act, as well as backed by the government money. In other words, the government is 100% behind this. The government wanted to help families to keep their homes which is why the Homeowner ship is in the New