The Missing Middle Podcast

Ontario has pledged to build 1.5 million new homes by 2031, but can our power grid actually handle the demand? In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down the $100B–$120B "last mile" infrastructure crisis quietly halting major housing projects across the province, including thousands of stalled homes in Brooklin, Whitby, and Ajax.
From the historical legacy of Sir Adam Beck’s publicly owned hydro model to modern electrification demands like EVs and heat pumps, we discuss why developers are being pushed to fund local grid expansions and what policy fixes, such as tax-exempt utility bonds and reforming the tax code’s 90/10 rule, can keep Ontario’s housing goals alive.
Topics Covered:
Can Ontario’s Grid Handle 1.5 Million New Homes?
Mega Transmission Lines vs. The Real Grid Bottleneck
What is the "Last Mile" in Power Distribution?
Case Study: Why 10,000 Homes Stalled in Brooklin, ON
Skyrocketing Household Load: Heat Pumps & EV Chargers
History Lesson: Sir Adam Beck & Ontario’s Original Power Vision
"Build Ahead" vs. "Pay to Play": The Shift in Infrastructure Financing
The Role of Local Distribution Companies (LDCs)
Two Policy Fixes: Tax-Exempt Utility Bonds & Reforming the 90/10 Rule
#OntarioHousing #CanadianPolitics #HousingCrisis #EnergyGrid #Infrastructure #TheMissingMiddle #SabrinaMaddeaux #MikeMoffatt

Chapters:
00:00 Can Ontario's Grid Power 1.5 Million Homes?
01:43 The "Last Mile" Bottleneck & Stalled Developments
04:00 EV Demand & Ontario's Electrification History
05:29 Public Utilities vs. "Pay for Growth"
07:14 Local Distribution Companies & Funding Friction
10:11 Two Policy Solutions to Fix Grid Financing
12:07 Final Thoughts & Outro

Research/links:
North America’s electricity grid is ready to grow. Manufacturers needed to build it are placing their bets
https://www.theglobeandmail.com/business/article-north-americas-electricity-grid-is-ready-to-grow-manufacturers-needed/

Electrical Load map:
https://oeb.planview.ca/Ontario-capacity-map/

Debt/Deficit MissingMiddle Episode referred to in video:
https://www.youtube.com/watch?v=H2zza3GwZ7E

Why a multibillion-dollar electricity infrastructure gap is threatening Ontario’s housing goals
https://www.theglobeandmail.com/business/article-ontario-cant-build-homes-without-rebuilding-power-grid/

Tracking housing supply progress
https://www.ontario.ca/page/tracking-housing-supply-progress#section-0

Ontario Launches Expert Panel to Strengthen Local Electricity Distribution
https://news.ontario.ca/en/release/1006663/ontario-launches-expert-panel-to-strengthen-local-electricity-distribution?utm_source=chatgpt.com

2025 Ontario Economic - Outlook and Fiscal Review
https://drive.google.com/file/d/1oTK_RueWPjD1Oc1YXVlT8nslnx9Ue_w6/view

Forward Guidance: Canada’s Energy Future.
https://www.youtube.com/watch?v=bySyMcg-p_4

Adam Beck
https://thecanadianencyclopedia.ca/en/article/sir-adam-beck

Build Faster Fund
https://opencouncil.ca/program/building-faster-fund/

An early history of hydroelectric power in Niagara Falls
https://nflibrary.ca/articles/an-early-history-of-hydroelectric-power-in-niagara-falls

Ontario’s electric history
https://thevarsity.ca/2026/02/03/ontarios-electric-history/

To Build More Homes, Ontario Launching Building Faster Fund and Expanding Strong Mayor Powers
https://news.ontario.ca/en/release/1003397/to-build-more-homes-ontario-launching-building-faster-fund-and-expanding-strong-mayor-powers

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
Funded by the Neptis Foundation https://neptis.org/

Canada’s trade relationship with the United States is facing major challenges. In this replay of a live episode recorded on Friday August 28, Mike Moffatt and Cara Stern break down Canada’s trade war with the U.S., the impact of tariffs, and what it all means for the Canadian economy.
They explore how tariffs and trade tensions could affect Canadian jobs, businesses, inflation, housing, taxation, financial markets, and economic stability while answering questions directly from the live audience.
Whether you’re a policymaker, investor, business owner, or simply trying to understand what’s happening to Canada’s economy, this conversation offers context and analysis on some of the biggest economic issues facing Canadians today.
In this episode:
Canada’s trade war and economic relationship with the U.S.
The impact of tariffs on the Canadian economy
How trade uncertainty could affect housing and affordability
Taxation and government policy
Financial markets and economic stability
What tariffs could mean for Canadian businesses and consumers
Live audience questions and answers
What Canadians should be watching as trade tensions evolve
Watch the full conversation for an in-depth discussion of Canada’s economic outlook and the challenges ahead.
#Canada #CanadianEconomy #Tariffs #TradeWar #USCanada #CanadianPolitics #Housing #Economy #Inflation #MikeMoffatt #CaraStern

Chapters:
00:00 Introduction to the Trade Dispute
02:12 Tariffs and the New NAFTA
04:23 Labeling, Language, and Trade Strategy
06:40 Canada's Trade Diversification Challenges
08:36 Taxing the Wealthy and Intergenerational Equity
12:30 Interprovincial Trade Barriers and Alcohol
16:38 Impacts on Housing and Construction
23:57 US Bonds and Canadian Investment
36:12 Bank of Canada and Interest Rate Policy
42:17 Government Support for Small Housing
44:37 Development Charges and Urban Planning
46:21 Closing Remarks and Next Steps

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
Funded by the Neptis Foundation https://neptis.org/

Ever wonder why it's nearly impossible to find a brand-new, modest starter home? In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down the real-world housing economics driving the extinction of small detached homes across Canada and why developers are practically forced to build McMansions instead.
From flat municipal fees to setback regulations and astronomical land costs, we run through the numbers we explain why smaller homes no longer make financial sense for builders, and what policy changes could actually fix it.
The disappearance of homes under 1,500 square feet
Serviced land pricing and lot width economics
How flat municipal development fees penalize small builds
Setback rules and wasted building space
Construction economies of scale
Fixed overhead and pre-construction costs
Policy solutions to bring back missing middle housing

Chapters:

00:00 Small Detached Homes Are Disappearing
02:02 Why Developers Don’t Build Smaller Homes
03:01 The Real Cost of Building a Small Home
05:27 Why Land Costs Favour Bigger Houses
07:43 How Lot Rules Make Small Homes Harder to Build
09:33 How to Bring Down the Cost of Land
10:12 Development Charges Favour Bigger Homes
13:39 Why Bigger Homes Have Lower Construction Costs
16:15 The Costs That Don’t Shrink With the House
17:47 Why a $600K Home Costs So Much

Research:

https://pub-ottawa.escribemeetings.com/filestream.ashx?DocumentId=311483 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
Funded by the Neptis Foundation https://neptis.org/

Fertility treatment is becoming increasingly common in Canada. But why?
On this episode of DemograFix, Cara Stern and Mike Moffatt dig into the dramatic rise of IVF and fertility treatment in Canada, and what it tells us about how Canadians are building families.
IVF births in Ontario have nearly doubled as a share of all live births since 2014, while the average age of patients starting IVF has climbed past 35. As Canadians spend longer in school, establish careers later, face higher housing and living costs, and delay parenthood, more people are turning to fertility treatment to help build the families they want.
But access to fertility care can depend heavily on where you live. Cara and Mike look at the geographic lottery of fertility treatment, differences in provincial funding, long waitlists, workplace benefits, and the often-overlooked costs of IVF, including time away from work and travel for treatment.

The bigger question is what happens when more Canadians are trying to have children later in life.
Is Canada's fertility system prepared for growing demand? And should policymakers be looking beyond IVF to the housing, career and economic pressures that are pushing parenthood later?
#IVF #Fertility #Canada #Demographics #FertilityTreatment #Ontario
Chapters:
00:00 Introduction
00:42 The Economic Reality of Delayed Parenthood
01:28 Why is Fertility Treatment Usage Up?
02:44 Biology and Success Rates
03:08 Analyzing the Data Surge
04:16 The Geographic Lottery of Fertility Access
05:22 The Biological Realities
06:41 The Myth of Fertility Control
07:44 Rising Complications in Younger Patients
08:27 Male Factor Infertility
08:42 The High Cost of Treatment and Waitlists
10:03 The Hidden Costs (Time & Travel)
11:34 Workplace Benefits and Trends
12:01 Recap and Future Outlook
13:01 Policy Responses and Root Causes

Research/links:
Publicly funded in-vitro fertilization (IVF) program - Province of British Columbia 
Canadian assisted reproductive technologies registry CARTR PLUs annual report 
CARTR Reports - Canadian Fertility & Andrology Society 
Provincial coverage | Fertility Matters Canada 
https://news.ontario.ca/en/release/1007375/ontario-connecting-more-families-to-fertility-supports
https://www.zionmarketresearch.com/report/in-vitro-fertilization-market

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
Funded by the Neptis Foundation https://neptis.org/

Are Canada’s politics becoming less about left versus right and more about young versus old?
In this episode of Classonomics, Mike Moffatt and Sabrina Maddeaux explore the growing generational divide in Canadian politics and what it means for the economy, housing, and the future of democracy. They examine why older voters may prioritize inflation, pensions, and asset prices, while younger Canadians increasingly feel shut out of homeownership, economic growth, and traditional institutions.
Topics covered:
The growing age divide in Canadian politics
Why seniors and younger voters have different economic priorities
“Pocketbook” versus “sociotropic” voting
Economic growth and the distribution of wealth
Old Age Security and the politics of an aging population
Housing prices, homeownership, and generational inequality
Why young Canadians feel increasingly disconnected from the economy
Populism, political radicalization, and distrust in institutions
Brexit and the backlash against economic elites
Why making the economy work for younger Canadians matters for the future
#Canada #CanadianPolitics #HousingCrisis #GenerationalDivide #Economy #Politics #HousingAffordability #Millennials #GenZ #MissingMiddle

Chapters:

00:00 — Is Age Breaking Our Politics?
03:26 — The Generational Divide Is Reshaping Politics
06:22 — Why Voters Are Choosing Their Own Wallets Over Growth
10:14 — Why Older and Younger Voters Want Different Things
13:17 — Why Politicians Want to Keep Home Prices High
16:08 — Why Young People Are Losing Faith in the System
17:26 — How Economic Frustration Fuels Populism
20:33 — Why Young Voters Are Turning to Extremes
21:03 — How to Make the Economy Work for Young People

Research:

Beer question: https://en.wikipedia.org/wiki/Beer_question 

Vlandas study: https://muse.jhu.edu/article/980470 

German research: https://www.kielinstitut.de/publications/kiel-focus/the-economic-consequences-of-populism/ 

Tobi Lutke’s idea that pensioners be excluded from voting is offensive. The concern behind it isn’t
https://www.theglobeandmail.com/authors/mike-moffatt/ 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux
Produced by Meredith Martin
Funded by the Neptis Foundation https://neptis.org/