In 1959 the Federal Housing Administration celebrated its 25th birthday. In June of that year 1200 people from 14 trade and professional organizations, including 100 REALTORS, gathered for the Industry Salute to FHA. The black-tie affair was held in Washington’s Sheraton Park Hotel.
Speaking at the banquet was President Dwight D. Eisenhower. Ike told the crowd, “there is no more valuable purchase that any man could make except a home- with one single exception. That exception is the purchase of a wedding ring. That wedding ring is the inspiration for the home and for purchasing it.”
FHA was established by act of Congress in June of 1934. Marking the anniversary, NAREB President James M. Udall wrote, “NAREB is proud to have been one of the earliest supporters of the FHA idea…the Association’s confidence has been more than justified.”
In this photo Denver REALTOR Aksel Nielsen presides over the banquet. “The FHA program represents one of the finest examples of industry and government working together with no cost to the taxpayer,” he said. “This cooperation has enabled literally millions of families to own their own homes.” FHA Commissioner Julian H. Zimmerman is seated on the far left , about to receive the plaque behind Nielsen. President Eisenhower sits between them.