The purpose of this paper is to ascertain if financial observations parallel the text findings in owner directives that suggested Municipal Housing Companies (MHCs) in Sweden have complied with the Public Municipal Housing Companies Act of 2011 (PMHCA 2011) requiring them to act in a business-like manner. Results are reported here for 19 of the original 20 companies used in a sample suggesting MPHs were acting in a business-like manner as required by PMHCA 2011. Information for the study was obtained from the Retriever Business database, which included complete company financials for the period. Best straight lines were constructed through individual company data from 2005 to 2010 (pre-regulation) and 2010 to 2014 (post-regulation). A t-test of slope difference was used to indicate the significance of any change. Sample results suggest that the industry as a whole has adjusted overall to the business-like mandate insofar as revenue generation illustrates an upturn starting in 2011. Results for return on assets, operating profit margin and solvency did not show statistically significant results. Results for two individual firms illustrate how extreme reactions might occur.