Final answer:
The Housing and Urban Development Act was signed into law in 1965 to make housing more affordable for Americans, particularly those living in poverty. It aimed to increase funds for public housing projects, provide rent subsidies for the elderly, and promote economic redevelopment in inner cities.
Step-by-step explanation:
The Housing and Urban Development Act was signed into law by President Lyndon B. Johnson on August 10, 1965. The purpose of this act was to make housing more affordable for Americans. It aimed to increase funds for public housing projects, provide rent subsidies for the elderly, and promote economic redevelopment in inner cities.
This act was part of President Johnson's overall plan to address poverty in the United States and was a key component of his Great Society programs. It aimed to improve housing conditions and provide opportunities for low-income individuals and families.