The HOME Act of 2025 is designed to protect renters and homebuyers from price gouging during housing crises. Here's what it does: When the Secretary of Housing and Urban Development declares that the country is experiencing an affordable housing crisis, landlords and home sellers would be prohibited from charging "unconscionably excessive" prices that exploit the crisis situation. This ban would last up to 30 days at a time but can be renewed. The law includes some flexibility—if a landlord or seller can show that price increases reflect legitimate additional costs or risks they've taken on, they have a legal defense.

The bill creates enforcement mechanisms at both federal and state levels. The HUD Secretary can pursue violations like the Federal Trade Commission does for unfair business practices, and state attorneys general can also sue on behalf of their residents. Any penalties collected would go into a Housing Trust Fund to help create affordable housing for low-income families. The law also establishes a new monitoring unit within HUD to track housing market data and identify suspicious pricing patterns or market manipulation.

Beyond the price controls, the bill requires HUD to investigate whether housing prices are being artificially inflated through reduced supply or other manipulation tactics, with special attention to large institutional investors buying up single-family homes. It also directs federal agencies to study unfair rental screening practices and limits what mortgage companies like Fannie Mae and Freddie Mac can invest in to ensure basic renter protections. The law doesn't override state laws and includes a one-week advance notice period before any price controls take effect, giving people time to adjust.