Activists in Seattle gather signatures to put a social housing initiative on the ballot. In early 2025, voters passed the measure, which implements a payroll tax on high incomes to fund the program.

Under Bill Pulte, Fannie Mae and Freddie Mac have pulled away from efforts to help low-income people buy homes.

A set of provisions tucked into President Donald Trump’s new tax-and-spending law has real estate developers and affordable housing proponents cheering – though some view it as a bittersweet victory.