J. P. Arellano's article on housing policies analizes the chilean experience in the housing sector between 1975 and 1981. In this period took place a dramatic change in the housing policy for the poor. It was characterized by a disenvolvement of the State as an actor in the provision of housing solutions in its several stages, towards a scheme in which it provides the basic financement for the extremely poor and leaves the design, location, building and complement of credit to the private sector through the market. The article is divided in two sections. The first is devoted to the analysis of the subsidies themselves, with special refference to the systems used in the last few years; the second section is dedicated to three basic topics in any housing policy: the financing system, the land value system and the participation of dwellers in the solutions and options chosen.