How can European social housing institutions contribute to combating housing deprivation in the context of the post-2009 crisis? The paper examines the main issues and constraints in the Greek case by first questioning the extent of the immediate relevance of major established social housing models in western Europe vis-a-vis housing assistance for the needy and second by highlighting the exceptional conditions in the European South that make for very limited social housing sectors and a predominant bias in favour of widespread owner-occupation across all social classes. Both features are especially pronounced in Greece, where, in fact, social rented housing has never emerged as a viable model. Nevertheless, social housing assistance for renters based on fair allowances should be the main priority under the present crisis conditions, while ‘bricks-and-mortar’ social rented housing can only have a marginal role.