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Fortune
Fortune
Business
Sydney Lake

The ultrawealthy don't house hunt anymore. They subscribe

(Credit: Getty Images—Brandon Colbert Photography)

By the time a luxury home in Palm Beach hits the market, it’s already sold—and has been for months. The buyer is someone who’s hacking the luxury housing market by working with a broker and quietly joined a developer’s private waitlist before the blueprints were even drawn. 

This is the subscription economy for billionaires, and it’s reshaping how the ultra-wealthy buy homes across America. Ultrawealthy buyers are now securing spots on private waitlists months—or even years—before a home breaks ground. 

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