In this chapter, we discuss the historical development and current state of the housing and welfare regimes in the Nordics, using Sweden and Norway as our main cases. We argue that it is still broadly correct to regard Sweden, Denmark, Finland and Norway, as four distinct housing regimes with major differences in terms of public policies and housing market characteristics. On the other hand, the contemporary Nordic housing regimes have many similar features and challenges, not least connected to the debt fuelled escalation of residential property prices. Our comparative discussion seeks to illustrate how common challenges related to globalization, financialization, affordability and inequality manifest themselves and are dealt with in two unique housing regimes. We conclude by briefly discussing the prospects of political initiatives to counter major obstacles to the goal of achieving fairness, freedom, and well-being for all in the welfare state’s ‘wobbly pillar’