Protecting against housing price gouging during emergencies and market oversight.
This act aims to protect citizens from unfair price increases in rental and home sales during emergencies. It prohibits excessive pricing in declared housing emergencies and allows federal and state authorities to intervene. Additionally, the act mandates investigations into real estate market manipulation and excessive purchases by large investors to help maintain housing affordability.
Key points
Prohibits unconscionable price increases for residential rentals and sales during declared housing emergencies.
Allows federal and state attorneys general to enforce these prohibitions, including imposing penalties and seeking damages.
Establishes a Housing Monitoring and Enforcement Unit within HUD to continuously analyze housing market data and identify manipulation.
Mandates an investigation into how non-occupant investors impact housing markets, especially for underserved communities.
Funds collected from penalties will be deposited into the Housing Trust Fund to support affordable housing for low-income families.
Status:
Expired
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