The HOME Act of 2025 would let the Department of Housing and Urban Development (HUD) declare an affordable housing crisis. During a declared crisis, it would prohibit renting a home or selling a single-family home at an unconscionably excessive price that exploits the crisis. A prohibition could last up to 30 days at a time and be renewed. HUD would consider factors such as mortgage rates, home prices, and household income when deciding whether to declare a crisis. The bill also directs HUD to investigate housing prices, monitor housing markets and large purchases, and create a unit to analyze housing data. It directs federal agencies to study rental screening practices and competition in housing markets. It would also require standards for certain mortgages purchased by Fannie Mae and Freddie Mac.
The price restriction would apply only after HUD declares a crisis and would cover rental homes and single-family home sales. HUD and state officials could bring enforcement actions. The bill also calls for reporting on rental screening practices, including background checks and screening algorithms. It does not set a general price limit for housing outside a declared crisis.
The bill authorizes $1 million for HUD’s housing-price investigation for fiscal year 2024. Penalties collected by HUD would go to the Housing Trust Fund, with use of those funds subject to future appropriations. No other costs are specified in the bill text.
No publicly available information.
No publicly available information.