When shelter becomes profit seeking

When Shelter Becomes Profit-Seeking

Canada markets itself as stable. Safe. Attainable. A place where hard work leads to security — and security begins with a home.

That narrative is weakening.

Across the country, housing costs have outpaced wage growth for years. What was once considered a “starter home” now requires a salary that far exceeds the median household income. In major cities, ownership is increasingly unattainable for first-time buyers. In smaller cities, prices have surged as demand spills outward. The geographic workaround that once existed — move somewhere cheaper — is narrowing.

Renting is no longer a stable alternative. Vacancy rates remain low in many regions, and rents continue to climb faster than earnings. When more than 30% of income goes toward housing, affordability is strained. When it approaches half of a household’s income, stability becomes conditional. One unexpected expense — a car repair, a medical bill, a reduction in hours — can unravel it.

The issue is not simply high prices. It is structural imbalance.

Population growth has been significant, supported by immigration policies that fuel economic expansion. Yet housing construction has not consistently matched that pace. Municipal zoning restrictions, slow development approvals, infrastructure bottlenecks, and labour shortages in the construction sector limit supply. At the same time, housing has increasingly shifted from shelter to profit-seeking.

Investment properties, short-term rentals, and speculative purchasing are now normalized components of the market. When housing becomes a tool for profit-seeking, its accessibility as basic infrastructure diminishes. Those who entered the market years ago benefit from rising equity. Those attempting to enter now face escalating barriers.

Government intervention has acknowledged the problem: first-time buyer incentives, foreign buyer restrictions, commitments to affordable housing, zoning reform discussions. But the pace of reform often trails the pace of price growth. Affordable housing waitlists stretch into the thousands. Approval timelines for new builds can span years. Meanwhile, market pressure continues.

The consequences are subtle but widespread. Young adults delay major life decisions. Families relocate farther from employment centres. Seniors on fixed incomes face increasing insecurity. Essential workers — teachers, healthcare staff, tradespeople — struggle to live within the communities they serve.

The Canadian housing system once relied on a predictable formula: steady work, disciplined saving, eventual ownership or stable rent. That formula is no longer reliable. The gap between income growth and housing costs continues to widen, challenging the idea that effort alone guarantees access to stability.

This is not a call for panic. It is a call for alignment.

Housing policy is not an abstract debate. It determines who can build a life here and who cannot. If current trends continue, exclusion will become normalized rather than exceptional. A system designed to provide stability must not quietly evolve into one that withholds it.

What needs to happen is we need to stop making it a profit machine. Most of the homeless people out there are simply homeless because they can’t afford to pay the rent or mortgage any longer. Their housing cost do not work with their current salaries of paycheck. There are families sleeping in their cars. This is unacceptable. People are not garbage and they should not be treated as such. In my opinion, rent should not be that much. It should depend on your income in all circumstances. Rent should be geared to income for everyone if you own a home and paid a mortgage that’s different, but if rent was geared to income for everyone who rented there would be a lot less people on the street. It breaks my heart to see my country, letting down in citizens by letting this happen. Things need to change working hard having a good job should afford you housing for your family. We need to do better.