Housing policy has been a long-standing and significant element in the regeneration of cities. Housing change is seen as an important element of regeneration in itself, but is further seen to have wider impacts on the economy of urban areas. The dimensions of these impacts are explored in the paper and a framework for evaluating the scale of the spillover effects from housing policy is discussed. Evidence is drawn largely from the Glasgow and Scottish experience. Evidence of the role of housing in facilitating a city response to economic restructuring is argued to be weak, but rational policy development requires that it be better understood.