Homelessness has been described as a wicked problem due to its complexity and persistence. In the past few decades, Finland has implemented strategies and measures to tackle homelessness and to prevent it. The results have been effective, and homelessness has decreased significantly. However, despite the success of these implementations, there are still thousands of homeless people in Finland who lack a place to call home. As it remains, homelessness is one of the most challenging problems facing Finnish society. In Finland the explanations for the homeless phenomenon have usually wavered between individual characteristics and structural factors. Substance abuse and mental health problems, divorce or a break-up, rent arrears and over-indebtedness are usually highlighted as individual factors for homelessness. In Finland, the most significant structural factor for homelessness is the inadequacy and shortage of affordable rental housing. There is a shortage of affordable housing especially in the Helsinki metropolitan area, where homelessness nationally is concentrated. This ethnographic study approaches the homeless phenomenon in Finland by exploring the daily lives of two homeless men who also suffer from substance use problems. The study is divided into two parts. The first part focuses on the men’s pathways to homelessness and factors that have contributed to these. This is followed by the men’s conceptualisations of home, what it means to them, and how they make home as homeless people. The second part of the results shed light on the men’s survival strategies, daily activities and their encounters with fellow street people. The data, which consists of fieldwork observations and unstructured interviews, were collected between autumn 2015 and winter 2016. Thematic analysis was applied to analyse the data. The results show that the men’s pathways to homelessness are complex, stemming from both individual and structural factors. Troubled childhoods, lack of education and employment, low levels of income, bad credit, lack of supporting social networks and addiction problems contribute to the men’s situations as homeless people. However, this study shows that many of these factors that are usually considered as individual, are actually more connected to structural factors such as insufficient level of social security and inadequate access to social and health care. The study illustrates that people who are in vulnerable positions to begin with, are more likely to be exposed to these structural factors, the main factor being the lack affordable housing. The participants’ conceptualisations of home show that not all housing is considered home. In adverse circumstances home can be for example a staircase or prison. Furthermore, the research findings show that the everyday life of a homeless person is occupied with attempts to meet basic needs such as eating, washing and finding a place to stay. Much of the men’s daily lives are also devoted to making money, which is usually acquired by stealing. The results indicate that the men’s social contacts consist mainly of people who use substances or are otherwise in similar situations, though encounters with fellow people are not always positive and the threat of violence is often present.