Should the government tax the profit made from the sale of a primary residence?

Currently, the Principal Residence Exemption allows Canadians to sell their main home tax-free, regardless of how much profit they make. Critics argue this policy turns housing into a lucrative tax shelter that inflates prices and benefits older generations at the expense of young renters. Proponents argue that for most Canadians, their home is their primary retirement savings vehicle, and taxing it would be a devastating financial betrayal to the middle class.