Texas could face a steeper burden if Trump slashes FEMA

👋 Welcome back! Today, we're diving into FEMA funding concerns, home sellers' losses from private deals, CoreLogic's rebrand, and more real estate updates.

Today's newsletter is 631 words — a 2.5-minute read.

1. Texas could face a steeper burden if Trump slashes FEMA

According to a new analysis by the Carnegie Disaster Dollar Database, Texas could face greater financial burdens than other states if President Trump slashes federal resources for disaster relief.

Trump floated "fundamentally overhauling or reforming" FEMA, or "maybe getting rid" of it entirely — fueling concerns that disaster relief could be thrown into chaos.

From 2015 to 2024, Texas received an average of about $1.4 billion a year in FEMA and HUD relief funding, covering 16 disasters.

FEMA and HUD funding as a share of state spending, top 10 states

2. Home sellers have lost $1B through private deals since 2023

According to a study published by Zillow, home sellers who did not list their properties on the MLS lost more than $1 billion in sale proceeds over the past two years. The study also found that these losses were most significant in communities of color.

In 2023 and 2024, Zillow found that sellers who chose not to list on the MLS typically lost out on nearly $5,000, selling their property for 1.5% less than those listed on the MLS.

In communities of color, the number jumped to 3.2%, more than double the 1.2% loss recorded in majority-white neighborhoods.

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3. Catch up quick

😡 Texas AG Ken Paxton's trial cost taxpayers over $5 million. (Axios)

🚀 CoreLogic rebrands to Cotality. (CoreLogic)

🔄 Top execs at Freddie Mac, FHFA fired. (Yahoo)

📈 Tariffs could drive construction costs up 5%. (CBRE)

✨ Colorado-based TTEC moves HQ to Austin. (MySA)

🥊 Other read: George Foreman, the heavyweight champion from Houston who faced Muhammad Ali in one of boxing's most memorable fights, died Friday at age 76. (Chron)

4. Fix-and-flip activity was down in 2024, but profit margins grew slightly

The number of home flips across the nation declined in 2024, according to ATTOM’s latest Home Flipping Report. Investors flipped 297,885 single-family homes and condos last year — a 7.7% drop from 2023 and a steep 32.4% decrease from the recent high of nearly 441,000 flips in 2022.

Despite the slowdown in activity, gross profits rose. The typical flip generated a $72,000 gross profit, up from $67,846 in 2023. That equates to a 29.6% return on investment based on the original purchase price, a modest increase from 28.6% the year before.

5. Scott Turner calls HUD headquarters ‘ugliest building in DC’

Housing and Urban Development (HUD) Secretary Scott Turner is no fan of the massive Weaver office building that houses his agency, and he is hoping to relocate.

“You know, HUD is known as the ugliest building in D.C., which is not a mantra I like,” Turner told Fox News’s in a Monday interview at the HUD headquarters. “We want to create an environment here, including our building, where people want to be proud of where they come to work and carry out the mission and the assignment that we have.”

Asked if that meant “moving everybody out” to a new location, Turner said yes and said he’s had discussions with the General Services Administration (GSA), which manages federal office space, among other duties.

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