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The ultra-wealthy are finding new ways to shop for their dream homes—they’re “subscribing” to developers and joining waiting lists instead.

By joining a waiting list, buyers aren’t just waiting for a house: they are collaborating on bespoke finishes like Danish ash floors and Calacatta Viola marble before the home is even finished.

Brooklyn-based luxury real estate developer Eckstrøm reveals that 60% of its townhome sales happen off-market through its exclusive waiting list.

They sell during a private release window through the studio’s invite-only buyer circle, known as the Little Black Book.

According to the developer, it’s made up of a vetted group of buyers who receive priority access to new acquisitions and construction updates.

Both of Brooklyn’s top two residential sales of 2026—170 Clinton Street, which sold for $14 million, and 307 Hicks Street, which sold for $14.995 million—transacted through this private-first approach, reinforcing how dominant the model has become at the very top of the borough’s market.

Homes by invitation only

At a time when “quiet luxury” and “warm minimalism” are topping people’s social media feeds, this aesthetic is now being industrialized through these private, invite-only pipelines.

“There is significant demand for large, turnkey houses on prime blocks, but available inventory is extremely limited,” Eckstrøm co-founder Carlos Saavedra tells Realtor.com®. “As a result, many buyers are reaching out 12 to 18 months in advance to lock in a property before it is finished.”

Saavedra says Eckstrøm offers a combination of semicustom homes and fully finished properties.

“Because semicustom options require a highly vetted group of buyers and construction site access is limited, I prefer to handle those off-market,” he says. “For finished products, we typically offer them off-market for the first few weeks to prioritize buyer privacy before listing them on the open market.”

The subscription model shifts the power from the broker to the developer-as-concierge.

“Most buyers are very discerning but still look to us for guidance on the technical aspects, such as department of building and landmark approvals, structural work, and mechanical systems,” says Saavedra. “They value the peace of mind that comes from knowing the core of the home was handled by a specialist.”

Saavedra says many developers prefer to let clients handle their own renovations after a sale, assuming the buyer will tear everything out anyway. “We take a different approach by involving the client before closing, which is a unique proposition in this market,” he says. “They appreciate us handling the ‘heavy lifting’ so they can focus on selecting the finishes.”

One Eckstrøm listing touts, “Enjoy the fruits of a custom renovation, without the labor!”

Brooklyn is on the rise

Meanwhile, Brooklyn is establishing itself as a hub for ultra-luxury real estate—and that shift is beginning to reshape buyer behavior across the river.

“Over the past few years, we have seen West Village buyers consistently cross-shopping in Brooklyn Heights and Cobble Hill,” says Saavedra.

The appeal comes down largely to quality, Saavedra notes.

“This influx is driven by the fact that the quality of renovations in Brooklyn has finally reached Manhattan standards,” he explains. “We have maintained that level of quality since our condominium days and never water down our product.”

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As spring and summer near, investors are turning their attention to beach houses, hoping to profit from the wave of seasonal visitors booking Airbnb and other short-term rentals.

You may not think of beaches when it comes to Niagara Falls, but it tops AirDNA’s list of beachy short-term rental (STR) investments.

AirDNA—a firm that compiles and analyzes Vrbo and Airbnb data—recently identified the 10 top markets for beach and coastal houses.

“Strong beach demand alone doesn’t necessarily translate into the best investment returns: In some coastal destinations, higher home prices can make it harder for rental income to keep pace, while more affordable markets with steady visitor demand often produce stronger yields,” Chloé Garlaschi, communications manager of AirDNA, tells Realtor.com®.

“Proximity to the water also plays a major role in pricing power, with homes close to the shoreline typically commanding higher nightly rates and stronger occupancy.”

To compile the rankings, AirDNA zeroed in on yield—measuring the average revenue potential of homes on the market against their listing prices. Put simply, the company analyzed how much income a property could produce relative to what it would cost to purchase.

“Interestingly, all of these cities on the list have a median list price below the national median. No South Beach or Malibu here,” says Joel Berner, senior economist at Realtor.com. “Affordability is a key draw here when it comes to ROI on a beachfront STR, and these beach towns offer a lower entry point than even the national housing stock at large.”

Here are the top towns for owning a beach house, according to AirDNA—along with their annual revenue potential, median listing price, and current yield.

“These are the median listing prices for the entire city, so expect true beachfront properties to be more expensive,” says Berner. “Immediate water access is highly desirable both for owner-occupants and STR guests, so these properties typically fetch a serious premium.”

Niagara Falls, NY

Ocean/beach/lake attractions: Niagara River/Lake Ontario

Annual revenue potential: $29,000

Median listing price: $125,000

Current yield: 15.5%

“While Niagara Falls is not your typical beach destination, there’s no denying that water access is the main attraction,” notes AirDNA chief economist Jamie Lane.

“Niagara Falls State Park is the main engine, with signature experiences like Cave of the Winds, Maid of the Mist, and the Observation Tower that support multinight stays and peak-season pricing power. Beyond the falls, the region boasts outdoor activities, wineries, and guided tours that help convert day trips into longer stays and support shoulder-season travel.”

Corpus Christi, TX

Ocean/beach/lake attractions: Gulf Coast beach and bayside

Annual revenue potential: $43,000

Median listing price: $289,945

Current yield: 14.8%

“Corpus Christi is a Gulf Coast market investors gravitate toward for a simple reason: real beaches, real demand, and real revenue, without the sky-high buy-in of many oceanfront destinations,” notes Lane. “The city is built around the Texas coastal lifestyle—sand, water sports, family-friendly attractions—and benefits from weekend-drive accessibility for local Texas travelers.”

Port Arthur, TX

Ocean/beach/lake attractions: Gulf Coast Wetlands

Annual revenue potential: $35,000

Median listing price: $152,300

Current yield: 14.4%

“Weekend travelers to Port Arthur are drawn by fishing and birding around Sabine Lake, beach access at Sea Rim State Park, and easy coastal getaways that appeal to families,” says Lane. “Cultural attractions, including the Museum of the Gulf Coast and the city’s Cajun-influenced food scene, help round out stays and support repeat visitation.”

Muskegon, MI

Ocean/beach/lake attractions: Lake Michigan

Annual revenue potential: $40,000

Median listing price: $229,900

Current yield: 13.8%

“Much of the Lake Michigan shoreline in this region is either protected land or low-density residential, which limits the supply of waterfront housing available for private ownership,” Northern Michigan real estate broker Sander Scott, strategic real estate adviser at Real Estate Bees, tells Realtor.com. “Where short-term rentals are permitted, that limited supply combined with strong summer tourism can produce high seasonal occupancy.”

Fort Walton Beach, FL

Ocean/beach/lake attractions: Coastal panhandle tourism

Annual revenue potential: $47,000

Median listing price: $382,450

Current yield: 13.4%

“Fort Walton Beach has a small-town feel, and beaches are close and usually not overpopulated,” Susan Sharpe, broker for EXIT Realty Anchor South in Fort Walton Beach, tells Realtor.com. “The boardwalk on Okaloosa Island provides dining and shopping options, as well as live entertainment and fireworks. Destin is a short drive away.”

Salisbury, MD

Ocean/beach/lake attractions: Eastern shore/coastal spillover

Annual revenue potential: $37,000

Median listing price: $282,990

Current yield: 13.4%

Salisbury is on Maryland’s Eastern Shore, blending small-town charm with convenient access to the Atlantic shoreline. Located about 30 miles from Ocean City, the area attracts buyers and visitors looking for more affordable homes while still being close to the boardwalk and beaches.

West Pensacola, FL

Ocean/beach/lake attractions: Gulf Coast beaches

Annual revenue potential: $32,000

Median listing price: $310,000

Current yield: 13.3%

West Pensacola, FL, is just minutes from Pensacola Beach, making it an appealing spot for buyers who want coastal access without beachfront prices. The area attracts visitors who enjoy boating and fishing, with nearby destinations such as Perdido Key enhancing the region’s beach appeal.

“West Pensacola appeals to buyers who want to be near the Gulf Coast without paying the higher prices seen in some other coastal markets,” real estate agent and investor Ron Myers of Ron Buys Florida Homes tells Realtor.com.

Daphne, AL

Ocean/beach/lake attractions: Gulf Coast system

Annual revenue potential: $58,000

Median listing price: $389,100

Current yield: 13.3%

This relaxed coastal community sits less than 20 minutes from Mobile, AL, and offers easy access to waterfront recreation along Mobile Bay. While the area isn’t directly on the Gulf, visitors enjoy scenic views of the bay and a coastal lifestyle centered more on bayfront leisure than traditional beachfront living.

Port Richey, FL

Ocean/beach/lake attractions: Gulf-coastal lifestyle with boating and fishing

Annual revenue potential: $36,000

Median listing price: $249,900

Current yield: 12.9%

Port Richey, FL, is a small Gulf Coast community where visitors enjoy boating and fishing. The area offers a more relaxed beach lifestyle, while still being close to shoreline parks and marina access along the Pasco County coast.

“Port Richey stands out because it is more affordable,” says Myers. “It’s the kind of place where buyers feel they can still get more for their money compared to some of Florida’s more expensive areas.”

Michigan City, IN

Ocean/beach/lake attractions: Indiana Dunes lakeshore tourism

Annual revenue potential: $43,000

Median listing price: $352,400

Current yield: 12.3%

Michigan City, IN, is a popular Lake Michigan shoreline community known for its sandy beaches and marina access. Berner notes that Michigan City’s median listing price climbed 67.1% year over year, even with listings up 18.5% during the same period. “The word is out on this beach town and it has created a hot local housing market,” he says.

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With mortgage rates falling to their lowest level in over a year, 2026 may be the year prospective homeowners who have been sitting on the bench finally get a shot at a new home. 

But whether you’re a first-time buyer or a homeowner looking to make a change, landing in a new home this year will take specific financial planning. 

Forecasts are optimistic, but the reality is that if you don’t have your money squared away properly, when your dream home presents itself, you won’t be able to make an offer.

But financial experts agree that there are moves you can make right now to ensure you’ll be prepared. 

Take stock of your finances before you start house hunting

Make one of your January resolutions a full financial checkup, before you even start to browse listings.

“In today’s market, a financially prepared buyer isn’t just someone who wants to own a home; it’s someone who has done the upfront financial work,” says Realtor.com® senior economic research analyst Hannah Jones. “That typically means having savings set aside for a down payment, a clear understanding of monthly affordability, and expectations aligned with current market realities.”

To do that, it’s a good idea to ask yourself some key questions:

• How much do I have in savings right now?
• How much of that is earmarked for a down payment versus emergency savings?
• Am I contributing enough to retirement—and can I buy without sacrificing it?

When it comes to savings, it’s important to remember that you’re working toward saving not only for a down payment, but also for your emergency fund, maintenance fees, and at least a few months of housing payments.

“You should have enough saved to afford a down payment and ideally 2 to 3 months of mortgage cost would be ideal,” recommends Katrina Martin, a tax professional with Wow Tax and Advisory Service out of Michigan.

If those funds are secure, how much you have saved for a down payment or need to save really depends on what kind of loan you’re looking to secure. Government-backed loans like FHA, VA, and USDA loans have more flexibility, with the latter offering mortgages with 0% down. 

But when it comes to conventional loans, you’ll need to have more saved, between 3% and 20% of the home purchase price. And even if you qualify for zero or low down payment, Martin explains you’ll still need to think about escrow money for taxes and insurance.

Furthermore, you shouldn’t be saving for just the down payment, but also for other important financial responsibilities. 

While mortgage rates are indeed still elevated, there is also a plethora of insurance and property tax volatility across the country.

For example, in Florida, Gov. Ron DeSantis is pushing to eliminate property taxes on homeowners in the state. However, a new analysis suggests that the move would come at a high cost for first-time homebuyers, with home prices increasing.

On the flip side, the average property tax bill in the U.S. rose to $3,500 in 2024, a 2.8% increase from the year before. In North Carolina, some counties saw property values rise by 25% to 88%, leading to bigger tax bills.

How much home can you actually afford?

When you apply for a mortgage, the amount your lender approves may not actually reflect real-world affordability. 

Most first-time homebuyers are caught off guard after their offer is accepted by the full cost of buying a home, beyond the purchase price. 

Closing costs, prepaid taxes and insurance, and even real estate agent commissions are all costs tacked on after the purchase, and you should have enough money to cover them. 

Buyers need to stress-test their budget going into the new year, taking into consideration rate changes, tax increases, or income shifts.

“Start saving what will be the expected mortgage each month for six months if possible. It will give you the savings that you need and get you in the mindset of having to make that payment,” recommends Martin. “If you are renting, whatever the difference will be between the rent and the mortgage, put that in savings and don’t touch it. It’s more than manifesting when you are actively preparing to purchase.”

The good news is, according to the Realtor.com 2026 housing forecast, rising incomes in the new year should outpace inflation, giving buyers more purchasing power. The monthly payment to buy the typical home is expected to slip to 29.3% of the median income, according to the analysis. This would mark its first year below the 30% affordability threshold since 2022, when mortgage rates were much higher. 

Still, it’s important to be realistic.

“Higher home prices and elevated mortgage rates mean affordability constraints haven’t disappeared,  they’ve just eased slightly,” adds Jones. “For buyers, that likely translates into somewhat more flexibility and buying power than in recent years, but still a competitive environment where staying within budget may require trade-offs on size, location, or timing. Rather than expecting a return to pre-2020 affordability, buyers should view 2026 as a period of gradual normalization, where income growth helps close part of the affordability gap but doesn’t eliminate it.”

So, with this in mind, as you start to plan your savings journey, use a mortgage calculator to get a full picture of your buying power. This will help you decide just how much house you can actually afford, taking into consideration all financial obligations.

Check in with a tax professional before you buy or move

As you’re starting to prepare to file your 2025 taxes anyway, it would be wise to have a conversation with your CPA or tax adviser on the realities of buying a home in the new year. 

If you work with a local adviser, you will be able to ask the pro questions about upcoming changes to state and local property taxes, as well as how mortgage interest deductions would affect your returns.

“If you are thinking of relocating, do your research on where you plan to stay and purchase before you take the jump,” shares Martin. “Many tax rate hikes are voted on before they are assessed; you want to be in the know and not blindsided.”

Your adviser could also potentially walk you through some of the changes on a federal level as well, like the upcoming SALT caps going into effect in 2026. 

Find a real estate agent who respects your budget and the reality of today’s market

Once you’re comfortable with your financial situation, find an agent who won’t be just a tour guide, but also a partner in this journey. 

You should be upfront with your budget constraints and comfort level when it comes to managing expenses like maintenance costs and taxes. 

You can start by asking your agent some smart questions:

• How are you helping buyers stay competitive without overextending financially?
• What concessions or negotiation strategies are realistic in this market?
• How do you advise clients who need to walk away from a deal that no longer makes sense?

If you have your finances in order and a skilled agent in hand, you’ll be ready to hit the ground running as the selling season starts to pick up this spring.

“Rather than waiting for conditions to look like the past, prepared buyers are adapting to today’s environment by planning ahead, staying flexible, and focusing on what they can control,” Jones adds. “That preparation can make the difference between feeling priced out and being ready to act when the right opportunity comes along.”

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Below is a timeline of the actions the Trump administration or Congressional Republicans have taken that impact housing since President Trump took office on Jan. 20, 2025, along with additional coverage of those topics.

CFPB

• Trump fires CFPB Director Rohit Chopra  Feb. 1
• Trump names Scott Bessent as new acting CFPB director Feb. 3
• New CFPB Director Bessent orders agency to stop working Feb. 3
• Chopra’s parting shot: A CFPB blueprint for state-level enforcement with teeth Feb. 4
• Enforcement experts fear the wild west of a weaker CFPB Feb. 4
• Mortgage servicers plan for a de-fanged CFPB Feb. 6
• Musk’s team has gained access to CFPB building, data systems Feb. 7
• Project 2025 architect Russel Vought takes over CFPB Feb. 8
• Vought shuts down most of CFPB’s function, cuts off funding Feb. 8
• Trump names Jonathan McKernan director of CFPB Feb. 11
• Legal experts weigh in on the CFPB and the future of regulation Feb. 13
• Meet Jonathan McKernan, the next director of the CFPB Feb. 13
• Lawsuit puts a pause on Trump’s plan to defund the CFPB Feb. 14
• What is Trump’s true plan for the CFPB? Feb. 14
• Appraisers wrestle with the CFPB’s dismantling Feb. 15
• Judge blocks CFPB firings amid Treasury labor union lawsuit Feb. 15
• Leading Senate Democrats demand a halt to HUD cuts Feb. 18
• The FHA denies facing 40% staff cuts but offers no layoff details Feb. 19
• Judge clears way for federal layoffs at CFPB and VA Feb. 20
• GOP bills would eliminate funding for the CFPB Feb. 21
• Trump allies fear DOGE’s methods to dismantle CFPB could backfire Feb. 22
• CFPB nominee McKernan gets grilled in Senate confirmation hearing Feb. 27
• CFPB nominee McKernan commits to protecting older Americans from financial abuse Feb. 27
• Assessing the whirlwind of housing policy changes in 2025 Feb. 27
• CFPB drops lawsuit against Rocket, Jason Mitchell Group Feb. 27
• CFPB drops enforcement action against Capital One Feb. 27
• CFPB told to reinstate fired veterans, military spouses Feb. 28
• CFPB staff: McKernan plans to ‘carry out the closure of the agency’ Feb. 28
• CFPB staff told to continue ‘performing statutorily required work‘ March 3
• CFPB source details ‘wholesale termination’ of key contracts March 3
• Warren blasts CFPB, FHFA nominees as they advance to Senate confirmation votes March 6
• CFPB COO gives details of DOGE’s scaling back of agency in court March 11
• Judge leans toward pause in Trump’s actions to unwind the CFPB March 12
• CFPB staffer alleges misconduct in Townstone redlining suit March 26
• Federal judge orders CFPB to reinstate terminated employees March 28
• Jonathan McKernan could lead CFPB “imminently” April 9
• CFPB freezes nonbank registry rule after industry pushback April 11
• Russell Vought wants to revoke prior CFPB ‘sub-regulatory’ guidance April 16
• CFPB fires 90% of staff, turns away from supervision April 17
• Inside the Trump administration’s plan to gut the CFPB April 21
• Appeals court restores ban on CFPB mass layoffs April 29
• Where does Jonathan McKernan’s CFPB nomination stand? May 2
• There’s a new enforcement playbook for mortgage lenders May 7
• Jonathan McKernan nominated for Treasury role, out at CFPB May 9
• CFPB rescinds 67 guidance docs, including mortgage policies May 12
• CFPB seeks recsission of pandemic-era mortgage servicing rule May 16
• CFPB to scrap ‘unlawful’ open banking rule May 27
• Potential picks for CFPB director after McKernan’s nomination pulled May 27
• Federal Reserve watchdog investigates efforts to dismantle the CFPB June 12
• Judge blocks CFPB bid to undo Townstone redlining settlement June 12
• Senate ‘referee’ says CFPB funding can’t be cut by reconciliation June 20
• CFPB cuts short its monitoring of Bank of America mortgage practices June 24
• The CFPB’s budget may be shrinking, but does that even matter? July 2
• CFPB cleared to fire 90% of its staff by appeals court decision July 15
• CFPB moves to limit nonbank supervision with new ‘risk to consumers definition Aug. 27
• CFPB ends multiple lender consent orders, opens few new cases Sept. 30
• Russell Vought says he will shut down CFPB Oct. 16
• CFPB drops nonbank registry rule, citing cost burden Oct. 29
• CFPB funding deemed unlawful by Trump administration Nov. 12
• Trump nominates Stuart Levenbach to lead CFPB Nov. 19
• Senate Democrats warn CFPB shutdown could disrupt prime interest rates Dec. 3
• Key CFPB official resigns amid Trump-era challenges Dec. 5
• CFPB’s ECOA proposal raises alarms for women Dec. 12
• Mortgage trade groups back CFPB plan to revise ECOA Dec. 16
• Consumer coalition challenges CFPB funding cut in court Dec. 17
• Federal judge orders Trump administration to seek money for CFPB Dec. 31

Federal Reserve

• FHFA Director Pulte calls on Powell to lower interest rates May 26
• Trump to Powell: It’s a mistake to not lower interest rates May 29
• Trump wants Powell to lower interest rates. Here’s how to do that June 19
• FHFA Director Bill Pulte calls on Fed Chair Powell to resign June 19
• Fed Vice Chair Michelle Bowman supports July interest rate cut June 23
• Jerome Powell says the Fed isn’t budging on interest rates June 24
• It starts: Trump initiates plan to install a shadow Fed president June 26
• FHFA’s Bill Pulte calls on Congress to investigate Fed Chair Powell July 2
• Trump appoints Stephen Miran to Federal Reserve board seat Aug. 7
• Trump attempts to fire Fed Governor Lisa Cook in latest attempt to pack Fed Aug. 25
• Lisa Cook files suit against Trump, Powell and Fed board of governors Aug. 28
• Pulte files new criminal referral against Fed’s Cook over mortgage fraud allegations Aug. 29
• DOJ launches probe into Fed’s Cook over mortgage fraud claims Sept. 4
• Raphael Bostic to retire as Atlanta Fed President Nov. 12
• Former Fed Governor Kugler violated financial trading rules, filings show Nov. 17
• Lisa Cook defense team challenges fraud claim Nov. 18
• Who are the candidates for the next Fed chair? Nov. 21
• Mortgage fraud against NY AG Leticia James dismissed by federal judge Nov. 24
• Kevin Hassett is the rumored lead for Fed Chair position Nov. 25
• Federal Reserve delivers third straight rate cut Dec. 10
• Trump’s past mortgages now mirror those now labeled as ‘fraud’ Dec. 12

Tariffs

• Trump places tariffs on Canada, China and Mexico  Jan. 31
• Is President Trump bluffing on tariffs?  Jan. 31
• Homebuilders ask Trump for tariff exemptions on building materials  Jan. 31
• Trump pauses tariffs on Mexico after border security deal Feb. 3
• US strikes deal with Canada to pause tariffs for one month Feb. 3
• Trump paused tariffs, but homebuilders still see long-term risk Feb. 7
• More homebuilder headaches: Trump imposes 25% tariff on steel and aluminum Feb. 10
• Reciprocal tariffs would create chaos for homebuilders Feb. 24
• Trump confirms 25% tariffs on Mexican and Canadian goods March 3
• Trump grants one-month pause on automobile tariffs March 5
• Trump grants one-month tariff delay on most Mexican building materials March 6
• Trump adds Canada to tariff pause on USMCA-compliant goods March 6
• Trump floats Canadian lumber tariffs in latest blow to homebuilders March 7
• Trump threatens to escalate tariffs on Canadian steel and aluminum by 50% March 11
• Trump softens stance on reciprocal tariffs but threat to homebuilders remains March 24
• What to know about Trump’s ‘Liberation Day’ tariff show April 2
• Trump’s ‘Liberation Day’ imposes dramatic global tariff regime April 2
• Bond yields fall after tariff news. Are mortgage rates next? April 2
• Tariff news sends mortgage rates to the lowest level of 2025 April 3
• Homebuilder stocks damaged after Trump’s tariff bombshell April 3
• Trump spares homebuilders on Canadian, Mexican imports, but China hit hard April 3
• Trump slaps China with an additional 50% tariff, and homebuilder stocks tank April 8
• Trump hikes China tariff to 125%, but pauses most others April 9
• Tariffs are creating a perfect storm for the housing market April 15
• Are trade deals good for mortgage rates? April 29
• US, China tariff detente has big implications for homebuilders May 12
• What happens to mortgage rates with more trade deals? May 12
• Federal court blocks Trump’s ‘Liberation Day’ tariffs May 28
• Whiplash: As second court orders halt to tariffs, appeals court keeps them in place May 29
• CFPB enforcement head resigns, criticizes Trump administration June 10
• Americans are divided over housing impacts of immigration, tariffs June 13
• Trump says he’s terminating trade negotiations with Canada. What does that mean for tariffs? June 27
• US, Canada resume trade talks days after Trump halted them June 30
• Trump imposes new tariffs, extends deadlines July 7
• Homebuilders are weathering the trade war — for now July 22
• Tariff impacts on inflation remain “spotty” as Fed considers September rate cut Aug. 12
• Trump’s ‘Liberation Day’ tariffs ruled illegal, but stay in place for now Aug. 29
• New tariffs on wood, furniture raise fears of higher housing costs Oct. 3
• Supreme Court’s tariffs case could have minimal impact on construction costs Nov. 14
• Tariffs could inflate housing costs, but the full impact remains uncertain Dec. 19

HUD

• HUD watchdog swept up in large-scale firings of inspector general  Jan. 27
• Memo mixup: Trump calls for freeze of 100 HUD programs, then denies it  Jan. 28
• Where things currently stand in Trump’s flurry of federal funding memos Jan. 29
• Trump’s first-term budget requests could foreshadow the future of HUD funding Feb. 4
• Scott Turner, Trump’s HUD secretary, confirmed by the Senate and sworn in Feb. 5
• New HUD secretary to prioritize GSE privatization Feb. 6
• HUD Secretary Turner holds town hall, says there are ‘two genders’ Feb. 7
• As White House scrutinizes HUD programs, union leaders offer a waste target Feb. 13
• HUD to cut 50% of its workforce Feb. 13
• HUD announces launch of DOGE taskforce, targest AFFH rule Feb. 14
• These are the functions of the HUD offices targeted for mass firings Feb. 14
• DOGE says it has recovered $1.9B in ‘misplaced’ HUD funds Feb. 15
• Fair housing nonprofit sues Scott Turner, HUD over ‘DEI’ orders Feb. 19
• Internal memo outlines DOGE’s plan to gut HUD Feb. 24
• Federal workers union sends cease and desist to HUD, OPM over DOGE directive Feb. 24
• Trump, Musk targeted by falsified video at HUD headquarters F eb. 24
• DOGE accessed confidential HUD data on housing discrimination Feb. 26
• Trump administration ends Affirmatively Furthering Fair Housing rule Feb. 26
• Trump nominates Andrew Hughes as HUD’s deputy secretary March 11
• HUD reportedly axes Biden-era green retrofit program March 12
• Trump prepares to develop affordable housing on federal land March 17
• HUD cancels HECM-related tech contract under direction of DOGE March 24
• HUD, DHS seek to stop undocumented immigrants from using federal housing programs March 24
• FHA restricts loan eligibility to US citizens and permanent residents March 26
• New FHA citizenship, residency requirements apply to reverse mortgages March 26
• What the FHA’s new eligibility requirements means for immigrant homebuyers March 27
• Federal judge temporarily cancels HUD cuts to fair housing grants March 27
• HUD cuts 90% of its website content, citing low traffic April 1
• The GAO to investigate HUD’s attempted fair housing cuts April 2
• Scott Turner’s busy day on X April 3
• HUD doubles down: No FHA financing for ‘unqualified aliens’ April 7
• Trump’s FHA restrictions could impact Hispanic homeownership April 8
• FHA further extends foreclosure, eviction moratorium for Helene and Milton victims April 8
• HUD and DOGE target mixed immigration status households April 16
• HUD makes it official: It will seek new headquarters April 17
• Democratic senator open to working with HUD on federal land for housing April 24
• FHA walks back Biden-era restrictions on foreclosed properties April 28
• HUD Secretary on withholding funds to cities over homelessness April 30
• Trump’s budget request seeks $33B in HUD cuts May 2
• White House proposes elimination of Section 8 housing May 5
• HUD announces Virginia disaster aid following presidential declaration May 6
• Trump budget outlines proposed cuts to rental assistance May 6
• Civil rights, housing advocates urge HUD to rescind ‘watered down’ fair housing rule May 7
• HUD secretary defends repeal of fair housing rule May 12
• FHA cites AI emergence as it ‘archives’ inactive policy documents May 13
• HUD blames Biden for lapse of emergency housing voucher funding May 13
• HUD announces $1.1B in funding for affordable housing in tribal lands May 13
• HUD approves Asheville hurricane recovery plan after initial objection over DEI May 16
• Joe Gormley addresses those pesky Ginnie Mae rumors May 19
• Scott Turner tours Nevada federal land to talk housing development May 19
• HUD walks back mortgage default guidance as ‘too burdensome’ June 3
• HUD is more vulnerable to fraud after staff cuts June 5
• Senate confirms Andrew Hughes as HUD’s deputy secretary, but key vacancies remain June 12
• HUD signs agreement with South Korean housing finance agency June 13
• Without VASP, veterans don’t have a foreclosure safety net June 20
• HUD officially ditches Weaver building for new HQ June 26
• FHA rescinds 12 policies as Trump pushes to cut red tape June 27
• HUD announces three senior leadership positions June 27
• Trump administration ‘effectively disbands’ PAVE task force July 10
• Judge orders HUD to resume allocation of fair housing funds July 30
• Trump signs VA foreclosure prevention bill into law July 30
• Joseph Gormley nominated to lead Ginnie Mae Aug. 4
• MBA voices support for FHA Commissioner nominee Frank Cassidy Aug. 5
• Freddie Mac expands CHOICEHome financing options Aug. 6
• HUD moves to bar non-permanent residents from Section 184 tribal loan program Sept. 4
• HUD rolls back fair housing enforcement, according to internal records Sept. 22
• HUD’s Scott Turner defends website text amid Hatch Act complaint Oct. 2
• How Trump’s immigration policies are reshaping mortgage strategies Oct. 10
• HUD layoffs hit 442 employees amid government shutdown Oct. 15
• Fair housing complaints mount amid HUD staffing cuts Nov. 13
• HUD announces drastic changes to homelessness policy Nov. 14
• Lawmakers urge HUD to rescind homelessness strategy changes Nov. 25
• Coalition challenges HUD on changes to homelessness program Dec. 3
• HUD pauses changes to homelessness program amid lawsuit Dec. 9
• FHA increases HECM limit to $1.25M in 2026 Dec. 11
• HUD investigating Boston housing policy, alleging discrimination against white residents Dec. 12

FHFA

• MBA issues support for FHFA nominee Bill Pulte Jan. 29
• FHFA nominee Bill Pulte discloses investments Feb. 25
• Bill Pulte lays out vision for FHFA under Trump Feb. 27
• Senate confirms Bill Pulte as FHFA director March 13
• New FHFA Director Bill Pulte is focused on GSE reform March 13
• Bill Pulte pledges to scrutinize ‘underperforming’ Fannie and Freddie, root out mortgage fraud March 14
• Pulte makes sweeping changes to boards of GSEs March 17
• Will Fannie, Freddie get the DOGE treatment? March 18
• CHLA urges FHFA Director to keep issues for small IMBs in mind March 19
• Fannie Mae board member with DOGE ties departs one day after appointment March 20
• FHFA cuts staff as Freddie Mac announces end of remote work March 20
• Top execs at Freddie Mac, FHFA fired March 20
• Bessent floats adding GSEs to sovereign wealth fund March 24
• FHFA office closures impact fair lending, consumer protection March 24
• Pulte won’t cut conforming loan limits for Fannie, Freddie. March 25
• Pulte terminates SPCPs, issues recision of UDAP bulletin in slew of orders March 25
• Mortgage leaders react to FHFA’s ending of SPCPs March 26
• FHFA makes changes to climate risk, radon inspection policies March 27
• FHFA replaces Freddie Mac board member amid other changes April 1
• Pulte says he’s canceled $6.4M in “DEI nonsense” at Fannie and Freddie April 7
• FHFA is establishing a mortgage fraud tip line April 16
• Pulte says he’s done making leadership changes at the GSEs April 21
• Bill Pulte shares his plans to improve GSEs’ productivity April 30
• Pulte: North Korean and Chinese nationals working at GSEs referred to DOJ May 6
• DOJ to investigate Letitia James over mortgage fraud on Pulte referral May 9
• Bill Pulte is putting ‘obese’ Fannie and Freddie ‘on the treadmill’ May 20
• Trump says he’s giving ‘serious consideration’ to releasing Fannie Mae, Freddie Mac May 22
• Trump’s GSE exit pursuit is complicated (and could be costly) May 22
• Bessent weighs mortgage rate risk in potential release of GSEs May 24
• Trump: I’m taking Fannie and Freddie ‘public’ with implicit guarantee May 27
• What an implicit guarantee means for mortgage rates on GSEs’ release May 27
• CHLA offers support for Pulte’s position on FICO pricing May 28
• How Bill Pulte has reshaped FHFA and the GSEs May 30
• Updated list of Pulte’s actions that impact FHFA, GSEs May 30
• Nevada democrat calls on FHFA for transparency in home purchases by investors June 3
• GSEs could go public while staying under government control June 3
• Senators call on FHFA Director Pulte to pause GSE privatization plans June 6
• Fannie, Freddie will prepare for cryptocurrencies in mortgage June 25
• FHFA Director Bill Pulte still being contacted by arrested would-be bomber June 26
• FHFA wants crypto in mortgages. Lenders have questions July 2
• Pulte says GSEs will accept VantageScore 4.0 immediately July 8
• Pulte’s VantageScore bombshell sends the mortgage industry scrambling July 10
• FHFA clarifies key VantageScore 4.0 implementation considerations July 15
• Trump says he will now not fire Jerome Powell July 16
• VantageScore 4.0 is coming. But much work needs to be done July 16
• Why firing Jerome Powell won’t work for President Trump July 16
• Fired Fannie Mae workers sue over discrimination July 23
• Lawmakers voice support for FHFA’s adoption of VantageScore 4.0 July 25
• FHFA plans to eliminate GSEs’ equitable housing finance plans July 28
• Trump meets with big bank CEOs to talk about taking the GSEs public July 31
• FHFA doubles GSE funding for low-income housing tax credits Aug. 5
• Trump plans IPO for Fannie, Freddie, later this year Aug. 8
• Trump’s GSE stock offering plan challenged by analysts Aug. 8
• Trump seems to confirm 2025 timing for Fannie, Freddie IPO Aug. 9
• Fannie, Freddie merger buzz draws mixed market response Aug. 11
• MBA opposes GSE merger, supports explicit government guarantee Aug. 15
• Pulte announces FHFA withdrawal from climate change coalition Sept. 19
• Freddie Mac extends interim CEO’s mandate, hires new general counsel Sept. 22
• Pulte announces FHFA’s termination of equitable housing committee Sept. 23
• Trump urges Fannie Mae and Freddie Mac to boost homebuilding Oct. 5
• Fannie Mae, Freddie Mac plan to close NY offices over AG’s practices Oct. 6
• Tri Pointe VP Brandon Hamara moves from Freddie Mac board to Fannie Mae board Oct. 8
• FHFA proposes strategic plan, signaling shift under Trump administration Oct. 16
• Fannie Mae names Peter Akwaboah as acting CEO Oct. 22
• Pulte says LLPA fees under review, signaling relief for buyers Oct. 23
• Fannie Mae names new head of single family and acting general counsel Oct. 24
• Debate heats up around GSEs’ potentially larger role as MBS buyers Oct. 30
• Fannie Mae cuts 62 jobs under FHFA’s push to streamline operations Oct. 31
• FHFA Inspector General position vacant after reported ouster of Joe Allen Nov. 3
• Habib’s proposal to FHFA would bring LLPA relief to second homes, cash-out refis Nov. 4
• Fannie Mae removes minimum credit score requirement from DU Nov. 6
• Pulte says Fannie, Freddie to remain in conservatorship with IPO plans Nov. 8
• Trump proposes 50-year mortgage to boot affordability Nov. 8
• Trump proposes 50-year mortgage Nov 8
• Pulte says Fannie, Freddie to remain in conservatorship with IPO plans Nov. 8
• WSJ: Fannie Mae officials fired amid mortgage fraud probe Nov. 12
• FHFA eyes assumable, portable mortgages Nov. 12
• Freddie Mac launches new quality control platform Nov. 17
• Senate Democrats demand GAO investigation into Pulte Nov. 18
• Bill Ackman pitches alternative plan to GSE stock sale Nov. 18
• Bill Ackman’s GSE proposal faces hurdles Nov. 19
• FHFA raises conforming loan limit to $832,750 for 2026 Nov. 25
• Rep. Eric Swalwell sues FHFA’s Bill Pulte, alleging misuse of mortgage records Nov. 26
• FHFA, FICO reach agreement to release historical FICO Score 10T data Dec. 2
• Fannie Mae, Freddie Mac limit public housing data releases Dec. 3
• FHFA’s Bill Pulte being investigated after mortgage fraud referrals Dec. 4
• GAO calls on FHFA to address fair lending risks in mortgage technology Dec. 4
• Fannie Mae broadens ADU, manufactured home eligibility Dec. 11
• FHFA sets 2026-2028 housing goals for GSEs Dec. 23

Federal employees/hiring, funding and regulatory freeze

• Trump initiates federal hiring freeze, return-to-office mandate  Jan. 21
• Trump’s regulatory freeze brings uncertainty to the housing market   Jan. 21
• Trump’s order to end DEI initiatives will impact federal housing agencies Jan. 21
• Federal hiring freeze could impact the rollout of HMBS 2.0, former Ginnie Mae head says  Jan. 28
• White house offer to federal employees sparks concern, union opposition  Jan. 30
• Judge halts deadline for White House ‘buyout’ of federal workers Feb. 6
• DOGE tells federal employees to detail their workweek or be fired Feb. 23
• Trump memo calls for escalation of mass layoffs at federal agencies Feb. 26
• Federal judge orders release of DOGE operational records March 12
• Judges rule that CFPB, HUD probationary employees still have jobs — for now March 15
• After Trump fires Democratic FTC commissioners, could Powell be next? March 19
• Treasury Department plans to cut thousands of employees March 25
• Affordable housing upgrades stalled by federal grant freeze March 26
• Judge orders Trump administration to reinstate federal employees April 2
• Fannie Mae fires over 100 employees, citing unethical conduct April 8
• Trump executive order aims to lower costs for federal agency buildings April 16
• Supreme Court case could impact Federal Reserve independence April 16
• Bessent reportedly cautions Trump over Powell comments April 17
• DOGE places entire staff of homelessness agency on leave April 17
• ESG team at Fannie Mae has been terminated: sources. April 25
• Will Trump install a shadow Fed president to get lower rates? April 29
• DOGE cuts to AmeriCorps imperil Habitat for Humanity programs April 30
• Senators call for investigation of possible DOGE ethics violations June 3
• Bessent announces 10 new appointments at Treasury June 27
• It’s official: DOGE cuts are impacting the DC housing market June 27
• Supreme Court ruling allows Trump’s federal workforce cuts to proceed July 8
• Treasury appoints Bisignano to dual IRS, SSA roles Oct 7
• Jonathan McKernan confirmed as Treasury under secretary Oct. 8
• Shutdown slows housing activity in federal worker-heavy markets Oct. 30
• Acting FEMA chief David Richardson resigns Nov. 18

Executive orders

• Trump issues executive order: Emergency price relief on housing  Jan. 20
• How Trump’s executive orders impact homebuilders  Jan. 21
• Trump’s path to lower housing costs has to navigate local concerns Jan. 21
• Trump issues executive order: DOGE workforce optimization initiative Feb. 11
• Trump makes move to control independent regulatory agencies Feb. 20
• Trump orders immediate expansion of US timber production March 1
• Trump expects TikTok sale deal ahead of Saturday deadline March 31
• How a housing nonprofit survives the age of DOGE April 2
• Trump’s assault on DEI hasn’t ended federal efforts to stop appraisal bias June 26
• Trump will consider eliminating capital gains taxes to boost housing market July 23
• Trump executive order would investigate banks for political discrimination, crypto stance Aug. 5
• Treasury Secretary Bessent says Trump may declare national housing emergency Sept. 2
• Trump wants quarterly earnings to be a thing of the past Sept. 15
• Trump considers Australian-modeled retirement plan Dec. 3
• Trump signs executive order targeting unified AI regulations Dec. 12

Legislative actions

• House bill looks to streamline affordable housing development Nov. 20
• Inventory, affordability take center stage in House hearing Dec. 4
• Road to Housing Act dropped from NDAA, sparking trade group response Dec. 8
• After another lapse in coverage, trade groups urge Congress to pass long-term NFIP bill Dec. 8
• House committee set to review Senate-backed housing bill Dec. 8
• U.S. House unveils Housing for the 21st Century Act Dec. 12
• Housing for the 21st Century Act advances in House markup Dec. 17

Opinions on Trump administration actions

• On his first day, President Trump reversed these fair housing protections Jan. 31
• Why the CFPB enforcement pause is not a free pass to lenders Feb. 10
• The Trump administration thinks HUD’s disaster relief is a waste of money. They’re wrong Feb. 19
• Trump will be a huge positive to mortgage, Mat Ishbia says Feb. 26
• As the DOJ takes shape, housing must be front and center March 21
• President Trump’s administration cuts more fair housing policies. What’s at stake? April 2
• GSE privatization effort must navigate ‘race to the bottom’ June 17
• Fannie Mae’s new AI-powered crime detection unit: The Pulte/Palantir project June 27
• Five reasons real estate agents should care about tariff news July 7
• If there’s a national housing emergency, let’s be honest about what it really means Oct. 20
• It’s time for a federal housing policy reset Oct. 23
• The 50-year mortgage: I’m not buying the ‘forever loan’ Nov. 14
• If we built the mortgage market from scratch, what would it look like? Nov. 20
• Tariffs, the Supreme Court and housing Nov. 21
• 50-year mortgage proposal could reshape US housing costs Nov. 24
• Why 2026 housing policy debates will center on housing supply, not mortgage rates Dec. 10
• A 50-year mortgage will not solve affordability Dec. 17

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Westside Estate Agency has nabbed the $195 million listing for the estate of Hyatt Hotels heir Tony Pritzker and philanthropist Jeanne Pritzker in Beverly Crest.

The asking price puts 1261 Angelo Drive in a tie for the priciest home on the market in L.A. County.

Westside Estate Agency co-founders Kurt Rappaport and Stephen Shapiro hold the listing for the Angelo Drive property. Rappaport is also co-listing the other top-priced home — called Casa Encantada at 10644 Bellagio Road in Bel-Air — with Carolwood Estates CEO Drew Fenton. 

Casa Encantada was placed on the market by the late billionaire Gary Winnick and his wife Karen Winnick. At one point, it had an asking price of $250 million.

The Pritzkers’ Angelo Drive property made headlines last month when the Wall Street Journal reported the 50,000-square-foot home was headed to market, given the couple’s divorce settlement.

If the property sells near its asking price, it would become one of the largest residential deals in the state. A Malibu estate sold by Oakley founder Jim Jannard earlier this year for a reported $210 million currently holds the title of the most expensive home in California.

The listing price is at the high-end of the Wall Street Journal’s previously reported range of $150 million to $200 million, which cited anonymous local agents.

Among the home’s more dramatic features are enough parking for 80 to 100 vehicles, 18 fireplaces, a bowling alley, wellness center and two-story guest house. The overall property sits on a 5-acre lot and counts 16 bedrooms and 27 baths.

The couple built the property and completed it in 2011, using it as a venue for a number of fundraisers and also social events drawing celebrities and other high-profile guests. 

Tony is the son of Donald Pritzker, co-founder of Hyatt Hotels, and heads the private equity firm The Pritzker Group. Forbes estimates his wealth at $4.1 billion.

For comparison, Casa Encantada boasts 60 rooms and an impressive list of former owners, including the Winnicks, Dole Foods founder David Murdoch and rival hotelier Conrad Hilton.

Read more

Pritzker divorce could result in sale of their Beverly Crest estate

Kurt Rappaport pads his portfolio with $23M Malibu deal

J.Lo and Ben Affleck list their Beverly Crest estate for $68M

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