HUD investigation and report on housing prices

(a) Investigation (1) In general The Secretary shall conduct an investigation to determine if the prices for rental housing units or sale of single-family housing are being manipulated by reducing housing capacity or by any other form of market manipulation or artificially increased by price gouging practices. (2) Consideration In conducting the investigation under paragraph (1), the Secretary may consider the impact of mergers and acquisitions in the real estate industry, including mergers and acquisitions involving developers, managers, owners, and investors. (b) Report (1) In general Not later than 270 days after the date of enactment of this Act, the Secretary shall submit to the Congress a report on the investigation conducted under subsection (a). (2) Contents The report shall include— (A) a long-term strategy for the Department of Housing and Urban Development and the Congress to address manipulation of rental housing markets and markets for sale of single-family housing, and in preparing the strategy the Secretary shall utilize data on race, gender, and socioeconomic status; and (B) a description and analysis of how non-occupant investors in single-family housing impact underserved communities. (c) Exemption from Paperwork Reduction Act Chapter 35 of title 44, United States Code, shall not apply to the collection of information under subsection (a). (d) Authorization of appropriations There is authorized to be appropriated to the Secretary to carry out this section $1,000,000 for fiscal year 2024.