The Ontario government exempted post-1991 construction from rent controls for over two decades and almost no new purpose-built rental housing got built. Instead, capital focused on the easy turnover, higher profit condo market, which has produced most of the new rental housing in the GTA over this period, although as the article illustrates this form of housing provides minimal housing security for renters. Capital will pretty much always seek the highest rate of return, and increasingly this means the highest rate of short-term return.