I live in Ontario (GTA), and as you might know, the property values are really inflated.

I-Bonds, offering inflation protection and potential CPI-based growth, are worth considering, but keep in mind the one-year holding period.

I live in Western Washington & home prices are too inflated for me to break in with the financing I would like.

My goal is to own assests and wait for inflation/ appreciation.

If you have no experience fix & flipping you will likely encounter unexpected and inflated costs especially with the current market. 

It seems that, between the low inventory, high interest rates, and still somewhat inflated home prices, you can't get a good deal unless you're buying cash or find a true needle in the haystack.

In the current market we are in (inflation, rates, housing market uncertainty, etc.) what are your thoughts on buying vs renting your primary residence?  

Predicting what will happen in the future is hard; so many factors can impact the market - inflation, interest rates, economic performance, geopolitical events, unexpected events, etc.

You see this happen again and again through the decades of cycles.Also lots of cheap builder grade box trash being built right now at inflated prices due to high material, land, and labor costs.

Inflation being what it is, that's probably $500 now, and of course that will clog the toilet, which means you'll have to call a plumber and pay him $300 to clear the line for you...