STUDY ECONOMY AND FINANCE HOUSING POLICIES IN(THE) CRISIS The Troika Memorandum and the Housing Market in Portugal • This paper analyses the impact on the housing market of the Memorandum of Understanding on Specific Economic Policy Conditionality, which defined the conditions for the loan granted by the Troika to the Portuguese State in 2011. • It comes to the conclusion that the austerity measures contrib­uted to the intensification of a non-interventionist and neoliberal model of housing policy and fostered dynamics that furthered the fragmentation of the Portuguese metropolitan areas. Gonçalo Antunes September 2020 • The paper also discusses the mitigating measures the Socialist Government took from 2017 aimed at attenuating the im­balances that the intervention period had produced.