Any real property, acquired by an Authority under the provisions of this act, shall be rented only to veterans of World War II and their families, at such a rent and upon such terms and conditions as such Authority, by regulation, shall prescribe. In renting any such real property, it shall be unlawful to make any discrimination whatsoever on account of race, creed or color. The Authority shall operate and maintain such temporary emergency housing facilities for so long a period as the housing conditions in the area in which such Authority operates shall require: Provided, however, That no Authority shall continue for a longer period than hereinafter provided.