What was one of the major changes in American home ownership by 1955 due to the G.I. Bill?
Understand the Problem
The question is asking about the impact of the G.I. Bill on American home ownership by 1955, specifically looking for one of the major changes that occurred during that time. The answer choices hint at different statistical outcomes related to home ownership.
Answer
By 1955, 4.3 million home loans worth $33 billion had been granted to veterans.
The final answer is that 4.3 million home loans worth $33 billion had been granted to veterans, who were responsible for buying 20 percent of all new homes built after the war.
Answer for screen readers
The final answer is that 4.3 million home loans worth $33 billion had been granted to veterans, who were responsible for buying 20 percent of all new homes built after the war.
More Information
The G.I. Bill significantly boosted homeownership among veterans, facilitating the postwar housing boom and contributing to the growth of suburban America.
Sources
- 75 years of the GI Bill: How transformative it’s been - defense.gov
- Servicemen's Readjustment Act (1944) - National Archives - archives.gov
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