Bill > HR702

This bill, the Housing Oversight and Mitigating Exploitation Act of 2023 (HOME Act of 2023), aims to protect consumers from price gouging of residential rental and sale prices during housing emergencies. It gives the President the authority to issue a housing emergency proclamation, after which it becomes unlawful for anyone to rent or sell housing at unconscionably excessive prices that exploit the circumstances. The bill also requires the Department of Housing and Urban Development (HUD) to investigate and report on housing price manipulation, establish a Housing Monitoring and Enforcement Unit to monitor rental and single-family housing markets, and limits the investments of government-sponsored enterprises Fannie Mae and Freddie Mac in multifamily rental housing. Additionally, it directs the Attorney General and Federal Trade Commission to review anti-competitive behaviors in the single-family and rental housing markets.