The financialization of housing is defined as the phenomenon in which housing is treated as a commodity such that it is a vehicle of wealth and investment rather than a social good and basic human right. While the financialization of housing itself can be seen as the product of financial innovation and economic development, it has also become an object of speculation and irrational exuberance in the form of market bubbles and social friction, which excludes disadvantaged members of society from benefiting from this expansive growth, oftentimes marginalizing these communities further. This paper aims to assess the importance of regulation and housing policy in developing economies as a means of controlling the financialization of real estate markets.