That is entirely true, if your lens of perception is simply "make profit."

On the other hand, having a large number of unhoused people using emergency services and making part of cities unsafe and virtually impassable also "doesn't pay," if you look at it from a societal point of view.

When you factor in medical, emergency services, police, judicial and more the typical chronically unhoused person costs taxpayers about $30,000-$50,000. Which does not include the fact that the unhoused/chronically poor often want jobs but their situations are a direct hurdle to them getting employment.

Alas, we live in a "profit before people" society, so it seems unlikely anyone will care... as long as that $30-$50K comes out of public funds rather than private equity's pockets...