Examines some of the possible outcomes of the decision to allow private sector house builders to bid for housing grant alongside a much-reduced list of eligible registered social landlords. Presents the views of house builders for and against this development and lists the worst-case and best-case outcome scenarios. Points out the arduous amount of paperwork developers will have to complete themselves to bid for funding and that the distributor of funding, the Housing Corporation's system for managing and regulating private sector bidders, is still out for consultation. Considers the current options open to developers: signing homes over to housing associations immediately; selling the houses to an existing social landlord; or enjoying as investor/owners a guaranteed rental income. The lines between developers and developing housing associations will become in time even more blurred.