Public Housing Equal Treatment Act of 2007 - Amends the United States Housing Act of 1937 to instruct the Secretary of Housing and Urban Development (HUD), when determining certain allocations for a public housing agency, to include as eligible units all public housing dwelling units that: (1) are owned by the public housing agency at the time of such determination; and (2) have previously received assistance under an agreement with HUD authorizing the agency to expend such funds on behalf of the units.