What is the significance of the Fair Housing Act?

The Fair Housing Act is significant because it serves as a crucial piece of legislation that prohibits discrimination in housing based on specific protected classes, which include race, color, national origin, religion, sex, familial status, and disability. This act aims to ensure equal housing opportunities for all individuals, regardless of their background or personal characteristics. By providing a legal framework to combat discriminatory practices in the housing market, such as refusal to rent or sell based on these protected attributes, the Fair Housing Act helps to promote fairness and equality in housing access.

In the context of the other options, establishing property tax regulations pertains to financial management in real estate rather than the prevention of discrimination. Providing subsidies for low-income housing focuses on financial assistance and affordability of housing, which is separate from the principles of fair treatment in housing opportunities. Lastly, regulating real estate commissions deals with the business side of property transactions, rather than addressing issues of discrimination and access. The emphasis of the Fair Housing Act distinctly lies in fostering an inclusive environment in the housing sector, making option C the correct answer.