Investigations of excessive manufactured home purchases

(a) In general The Secretary shall monitor purchases of manufactured homes and pad sites for manufactured homes in each housing market area in the United States, as determined by the Secretary, to determine whether any single purchaser of such homes or pad sites, including any purchaser that is an institutional investor, is purchasing an excessive amount of such homes or pad sites made available for sale in any such market area. If the Secretary determines that, beginning on January 1, 2015, any single purchaser has purchased more than 2,500 manufactured homes or pad sites for manufactured homes made available for sale in any market area, the Secretary shall conduct an investigation to determine if such purchaser has engaged in— (1) price gouging; (2) rental increases that are significantly above the area’s median rent price increase; or (3) failure to provide utilities. (b) Report Not later than 1 year after the conclusion of an investigation conducted pursuant to subsection (a), the Secretary shall submit to the Congress and make available on a public website of the Department of Housing and Urban Development a report of such investigation.