Not everyone, but a good chunk of the city is. Cost of living skyrocketed and interprovincial and international migration has strangled the job market to a point in which even some jobs that previously paid relatively well are down to minimum wage because people will take what they can get. Couple that with the fact that Alberta hasn't seen an increase in the minimum wage in 6 years, and now has the lowest in the country, and yeah, Edmonton needs affordable housing, and A LOT of it.
I was driven away from the city because of those factors.