We have learned many practices of how other leading countries develop and implement their housing policies, especially in China and Malaysia. The essential parts of a multi-faceted housing policy is to provide housing for low-income areas and to determine housing policy by assessing supply, demand and mortgage rates. At the initial stage of housing market, the price is unstable, is in turmoil and is not regulated. At the second stage, a price stabilization program and supply of low-income area housing programs are implemented. In UB city of Mongolia, we are in greatest need of housing policy development as the majority of the cities population live in ""ger district"", these ""gers"", a traditional yurt, are not supplied with heating, plumbing or hot water. In order to stay warm in one of the coldest cities in the world, those people have to use coal extensively for home heat and cooking, causing extremely dangerous levels of air pollution in the city. It shows that we are in need of excellent housing policy to be developed and implemented immediately. The first part of the paper will discuss about applying the study of Chinese housing policy in Mongolia and reveal that our housing market is frozen, but has excess supply and is in high need of housing price and regulation. The second part of the paper will discuss about how bench marking from the housing policies of European countries were not suitable for Mongolia