It is well known that the elderly population is growing, both in number and as a share of the total population, in Norway and elsewhere. In studies of welfare attitudes, a majority of the population deems elderly as a deserving group. Moreover, most of us regard the housing and housing conditions around which we build our everyday lives as one of the crucial pillars of our well-being. This article asks whether it follows from these two observations that there is a need to develop a specific housing policy targeted towards the elderly. The traditional economic theory of welfare is used as a tool and as an organizing principle for the discussions. More generally, the means of systemizing normative arguments that is demonstrated in the article can also be used in discussions of the design of other parts of housing policy. The benchmark used throughout the article is that of consumer sovereignty. In short, should policy-makers support the elderly in a way the increases the opportunity sets, or should policy stimulate specific choices and solutions regarding housing for the elderly? The conclusions point towards different kinds of market failure as arguments for a more interventionist policy in the field of housing for the elderly. External effects, informational deficiencies, and lack of agency are important types of market failure in this context.