From 40 to 100 million: How will immigration impact Canadian wages?
In this episode of the missing Middle podcast conservative pundit Sabrina Maddeaux and economist Mike Moffatt discuss the current state of immigration in Canada. Together they examine a Bank of Canada report that focuses on the implications of temporary foreign workers on wages. Mike and Sabrina talk about the challenges faced by new permanent residents, and the ambitious goals set by the Century Initiative for population growth. They explore how these factors intertwine with the housing crisis and the overall economic landscape, emphasizing the need for coherent immigration policies that align with infrastructure and social cohesion.Chapters00:00 Introduction00:52 Bank of Canada report on wages and immigration02:49 The mix of newcomers is different05:33 New immigrants earn less and country of origin impacts wages07:21 This is only becoming more pronounced09:11 The wage gap is shrinking for Permanent Residence 10:08 But it’s a good news, bad news story11:00 The role of wage suppression13:56 How does this impact social cohesion 15:25 The Century Initiative and population growth goalsResearch:The Shift in Canadian Immigration Composition and its Effect on WagesCanada's population needs to be 100 million by 2100Canada on track for 100 million population but public support can’t be taken for granted: Century Initiative CEOThe 'Century Initiative' is the talk of the campaign, but what is it?You Can't Grow a Country Just On Temporary ImmigrationHosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
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19:42
Ron Butler: Condo Crash Meets Housing Crisis
In this episode of the Missing Middle podcast, mortgage broker Ron Butler sits down with conservative pundit Sabrina Maddeaux and economist Mike Moffatt to discuss the current crisis in the Toronto condo market. Ron outlines the vast scope of the problem stemming from pre-construction purchases made during a speculative boom. He explains how investors are facing significant losses as property values decline, while also addressing the broader implications of poor development choices and the lack of low-rise housing options. The conversation explores the role of government in addressing these issues and the potential for positive change in the housing market.Chapters00:00 Introduction Ron Butler01:06 Outlining the Toronto condo market crisis04:07 How much of this story is a Toronto and Vancouver story?05:22 Never go cash-flow negative?07:01 How do we have a glut of condos during a housing shortage?09:51 How condo developers contributed to the crash12:13 Who is Most Affected by the Crisis?14:00 Financing challenges and future outlook15:33 The perfect storm - purpose-built rentals17:18 Government subsidized rentals18:13 The greenbelt and Downview Airport land19:39 Is this the Toronto bubble burst? Is it The One?20:23 Low-rise homes in Toronto - a brief history of artificial scarcity 23:05 What about family sized condos?25:08 What’s the best non-terrible case scenario here?27:32 The role of government in housing solutions29:08 It wouldn’t be an MM podcast without Mike talking about development charges30:25 Sabrina wants the government to get out of the wayResearch and links:The Angry Mortgage podcastHow low will rents go?416 Condo CrashChart Storm: Five graphs on Toronto’s historic condo market collapseGuest: Ron Butler, https://x.com/ronmortgageguyhttps://www.butlermortgage.ca/Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
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31:23
Can Factory-Built Homes Solve the Housing Crisis?
In this episode, conservative pundit Sabrina Maddeaux and economist Mike Moffatt discuss the potential of factory built homes as a solution to the housing crisis. They explore the promises made by politicians regarding prefabricated housing, the spectrum of factory built homes, and the claims of reduced construction times, costs, and emissions. The conversation delves into the current challenges faced in North America, including regulatory barriers and municipal approvals.Chapters00:00 Introduction to Factory Built Homes (FBH)01:34 Innovation in homebuilding03:25 Understanding the spectrum of factory built homes05:22 Claims of speed, cost, and emissions07:45 Current challenges in North America09:33 Where do the reductions in emissions come from?10:18 Perceptions of FBH among younger generations13:30 Regulatory barriers to adoption15:41 Municipal approvals and their impact17:40 Where would the election promise money go?19:19 The potential benefits for traditional builders20:12 Optimism for the future of FBHResearch/Links:Scott AitchisonBuilding More, Building FasterCaivanWhy is it So Hard to Mass-Produce Housing?Eight Pieces of Housing Advice to the Prime MinisterHosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
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25:02
The Housing Trilemma: Why You Can't Afford a Home
In this episode of The Missing Middle podcast, hosts Sabrina Maddeaux and Mike Moffatt discuss the impossible trinity that broke Canadian housing. They explore the implications of stagnant neighborhoods, population growth, and government policies that hinder housing affordability. The conversation delves into the complexities of urban planning, the impact of NIMBYism, and the need for realistic solutions to address the housing crisis.Chapters00:00 Introduction01:06 Gregor Robertson’s rough start as Minister of Housing03:51 Increased government housing would impact home prices05:06 Understanding the Impossible Trinity that broke housing07:37 Examples of cities doing two of three10:03 Not allowed to grow up or out equals spiking prices11:21 The illusion of legalized fourplexes14:15 Ottawa’s zoning reform and stupid two-story height limit17:33 Toronto’s wealthiest areas are the least dense18:20 Proposed solutions for housing affordabilityResearch links:The Impossible Trinity that Broke Canadian HousingCan Homes Become Affordable Without Prices Going Down?Toronto Star fourplex pieceHow Community Consultation is Ruining DemocracyHosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
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20:32
Where DID All the Jobs Go? The Mystery of Rising Unemployment.
Chapters00:00 Introduction01:13 Job market statistics 02:10 Why the job market is so bad right now04:27 Different ways to measure the job market07:02 Things are particularly bad in Ontario09:02 High unemployment fractures the social fabric11:25 The impact of a slow job market on lifetime earning13:32 How youth unemployment shapes political priorities14:58 Will the soft job market result in increased school enrollment?17:40 Is an improved credential worth the cost?20:41 Job searching lasting over six months22:08 Solutions and policy recommendationsResearch/linksCanadian Labour Market Update Q1 2025: Jobs in PurgatoryOntario’s unemployment rate jumps to 7% even as ‘moderate’ job creation continuesAlex Usher blog - Opportunity and TalentSomething Alarming Is Happening to the Job MarketAbundance by Ezra Klein and Derek Thompson review – make America build againHosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.
About The Missing Middle with Mike Moffatt and Sabrina Maddeaux
Welcome to the Missing Middle, a podcast about why the middle class in Canada is disappearing. We hope to help you understand why life is becoming unaffordable for so many in this country, and what can be done to reverse course.
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