Profit was a bit of a misnomer, but the problem is that they have to balance the books. My axe to grind with the EU is mostly from a Swedish perspective. We have a shitload of our low income housing stock from the million programme (which there is a need for a new wave of imo). The problem is that they're approaching 50 years old, and a lot of it is in dire need of replumbing, renovated balconies etc. These buildings weren't run with that in mind over the horizon, so there is no saved up capital to finance it, so when renovations happen rents often have to be raised by 50% or more to finance it forcing out low income earners. This includes tenants associations and housing cooperatives. Fortunately I live in a housing cooperative which has been able to tackle the major renovations without too much of an issue, but it is a major problem.

There is no real political will to build affordable housing anymore, and private actors sure as shit won't build it. At least market rents haven't been put in place (yet), though they're currently working on putting it in for new builds (thank you very much succdems).