Final answer:
The important exhibition of modernist housing in 1927 was held in Stuttgart, Germany, displaying innovative architectural ideas post-World War I.
Step-by-step explanation:
In 1927, an important exhibition of modernist housing, which reflected the utopian outlook and architectural innovation of the time, was held in Stuttgart, Germany. This event is now known as the Weissenhof Estate, part of a building exhibition known as the Die Wohnung, organized by the Deutscher Werkbund. Europe was recovering after World War I and was witnessing numerous architectural experiments aspiring to create a new societal vision. The exhibition in Stuttgart stood as a testament to modernist ideas in housing and urban planning and was significantly influenced by famed architects like Le Corbusier, who was integral in developing new styles that impacted future urban developments.