There is an opportunity now for the government to consolidate and refocus efforts in the housing sector. Vietnam has gone through several phases of housing policy. Prior to 1988, the formal housing sector was managed through central planning, which shifted to a reliance on market systems following the Doi Moi reforms. This has led to tremendous growth in the housing sector, particularly in the high-end segment for both the supply and demand sides. Yet, a market-based approach largely has not delivered housing solutions accessible to the poor or near-poor. Growth spurred by FDI investment and speculation led to significant home price increases in the high-end segment that eventually resulted in a real estate bubble from 2009-2012. The 30 trillion stimulus package has helped to reorient developers and lenders toward the affordable middle-income housing sector with real home ownership needs yet at a high fiscal cost to the government. After these years of crisis, there is an opportunity now to enter a new phase of housing policy, which is focused on better management of market vulnerabilities, more efficient public spending, and affordability for the lowest income.