June, 2003 Policy Options for Housing for Low Income Households Joshua Gans and Stephen King University of Melbourne This paper is benefited greatly from discussions and comments by Ed Glaeser, Ian Harper, Elvis Jarnecic, Warwick McKibbin, Adrian Pagan, Malcolm Turnbull and, especially, Chris Joye. Richard Hayes provided outstanding research assistance. We also thank the Menzies Research Centre for financial support. All views expressed here are our own and do not necessarily reflect those of the above individuals and organisations.