Oregon Broker PSI Practice Exam

The Fair Housing Act is significant because it prohibits discrimination in housing transactions based on race, color, national origin, religion, sex, familial status, and disability. This landmark legislation was enacted in 1968 to promote equal access to housing for all individuals, ensuring that everyone has the right to seek and obtain housing without facing unfair treatment or barriers.

This act aims to eliminate discriminatory practices that can occur in the sale, rental, or financing of housing. By establishing a framework for fair housing principles, the law not only seeks to protect the rights of individuals but also aims to foster diverse and inclusive communities.

Understanding the importance of this act is crucial for real estate professionals, as compliance is mandatory and fosters ethical standards within the housing industry. The other choices do not directly address the primary purpose of the Fair Housing Act, which is centered on preventing discrimination rather than focusing on aspects like financial assistance or property taxes.