The $6.6 Billion Housing Disaster Politicians Won’t Talk About
Toronto’s housing market is in free fall — new condo sales have plunged 97% since 2021, costing governments $6.6 billion in lost tax revenue every year. In this episode, Sabrina Maddeaux and Mike Moffatt break down shocking new data on record-low home sales, how this impacts construction jobs, and why the crisis could get worse before it gets better. They explain how cutting taxes like the GST could revive housing starts without sacrificing affordability, and debate whether foreign buyers and international students should play a role in the market recovery. Don’t miss this deep dive into the numbers and policy ideas that could reshape Canada’s housing future.Chapters00:00 Introduction01:39 Understanding the GTA housing market crash02:28 Video Link - Where Did All the Jobs Go?03:01 Governments could lose $6.6 Billion06:20 Bad housing starts numbers explained08:42 Contraction in the construction industry means 41000 jobs lost10:40 How cutting the GST on new homes makes sense14:00 We need high home construction and affordability15:09 Foreign Investment and housing supply16:40 Conclusion and future considerationsResearch:Toronto’s Housing Collapse Will Cost Governments $6.6 Billion a YearWhere DID All the Jobs Go? The Mystery of Rising UnemploymentAltus group reports: https://www.bildgta.ca/wp-content/uploads/2025/06/6.18.25-Job-Risk-Housing-Pipeline-GTA-Altus-Group.pdfhttps://www.bildgta.ca/wp-content/uploads/2025/06/Altus-Data-Solutions-media-backgrounder_May-2025.pdfToronto New Home Sales Fall To Record Low, Just 42 Condos Sold In The CityThe Next Shoe to DropHow Vaughan is Cutting Housing Costs | The AgendaHosted 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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Broken Zoning: Why We Can’t Fix the Housing Crisis Without a Map
In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt are joined by urban planner Alex Beheshti for a deep dive into one of the most overlooked barriers to solving Canada’s housing crisis: zoning data. Alex makes the case for a Canadian Zoning Atlas—an ambitious but essential tool to bring clarity, consistency, and transparency to the country’s fragmented planning systems. They explore why zoning laws are so confusing, how the lack of machine-readable data cripples good policy, and what Canada can learn from international best practices. If we can map census data, why not zoning? From obscure codes to wedding vows about development charges (really!) this is a conversation about why better data might just be the key to better housing.Chapters00:00 Introduction 01:00 Canada needs a housing crisis map01:29 Alex shares his wedding vows02:48 Previous Alex B episode02:53 Mike’s philosophy of experimentation and failure04:05 Understanding zoning: definitions and complexities07:01 The need for centralized zoning data09:19 The massive gap in urban planning data10:30 Envisioning a Canadian zoning atlas12:16 Canada should emulate the US and Australia13:49 Future planning tools for CanadaResearch/links:Canada’s Housing Crisis Needs a MapGuest: Alex Beheshti https://twitter.com/beheshtialexHosted 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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How Cities Keep Screwing up Multiplex Housing
Why aren’t we seeing more multiplexes in Canadian cities—even after zoning reforms? In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt dig into the surprising roadblocks holding back infill housing. From bizarre bedroom caps to height limits that make 10-plexes impossible, they unpack how cities say "yes" to housing... and then quietly say "no." They call out the red tape, NIMBY politics, and why it might be time for provinces to take the wheel. If you're wondering why the housing crisis isn’t getting better, this one’s for you. (Full disclosure: This episode was recorded on Friday June 18th, before the Toronto city council watered down sixplex legalization, but the conversation remains entirely relevant.)Chapters00:00 Introduction01:51 Push-back to multi-unit buildings03:46 Bedroom limits06:07 Ron Butler episode06:34 The rooming-house factor08:14 Height restrictions and Ottawa story10:40 Restrictions make good architecture difficult12:13 Infil is always harder so restrictions make that even worse14:02 Solutionsresearch/links:Edmonton Zoning Bylaw RenewalCity staff recommend permitting sixplexes in residential areasCity staff recommend allowing sixplexes across all Toronto neighbourhoodsReddit discussion on the above 👆 Toronto city council waters down proposed sixplex legalization, limiting changes to certain neighbourhoodsToronto wrangles with a simple question: What is a multiplex?We recommend you read the City Hall Watcher Substack by Matt ElliottHosted 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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Canada’s GST Rebate is Based On 1991 Home Prices-WTF!?!
In this episode, Sabrina Maddeaux and Mike Moffatt tackle how GST rebates are affecting new homebuyers, tracing the history of these incentives and how inflation has quietly eroded their value. With fresh rebate structures now on the table—especially for first-time buyers—they examine what’s working, what’s not, and what’s politically possible. And, of course they have some suggestions on how policy could be shaped to benefit everyone. Chapters00:00 Introduction 01:52 A new home in the GTHA for under $450k - impossible02:23 Understanding GST rebates, their history and impact04:17 Why are the rebates so small?06:56 Bill c-4’s first-time-homebuyer rebate08:09 What the proposed GST rebate misses - seniors downsizing10:45 Proposed changes to GST rebates13:00 Will governments make these proposed changes?14:30 Sabrina’s take15:37 Concerns about inflation and housing demandResearch/Links:Is Ontario Ready to Spend $895M to Jumpstart Homebuilding?The PBOs Math Is Clear: We Need an Expanded GST Housing RebateHosted 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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Politicians vs. Millennials: The Battle for Housing Affordability
In this episode of the Missing Middle podcast Sabrina Maddeaux and Mike Moffatt discuss the lack of clear housing goals from political parties, including the Liberals' national housing strategy's focus on low-income earners and the NDP's ineffective communication with younger voters. The conversation highlights the struggle of middle-class individuals to afford housing, the disconnect between political messaging and the lived experiences of young Canadians, and the potential political time bomb ticking as a result of these housing frustrations. Chapters00:00 Introduction 01:01 The missing middle-class housing strategy 02:11 Housing as a human right can’t be the only strategy03:00 There is no vision for middle-class housing04:15 Some politicians have a vision but not the Liberals05:19 The Big Lebowski reference06:31 NDP's struggles with housing communication09:20 The unconscious bias towards social housing11:43 A misunderstanding of what middle class means15:12 Where are the policies that target market housing?16:20 Mike outlines 3 buckets of housing18:57 The rightward shift of young people21:15 The future of home ownership for young Canadians23:20 Saving for retirement without a home26:25 Cost of delivery crisis27:09 Policy solutionsResearch:The Homeownership Journey Is Broken. Policymakers Need to Repair It.Big Lebowski - NihilistsWhy is the NDP doing so badly, even with progressives? Just take a look at their awful housing Housing affordability for Millennials and Gen ZHow Taxes, and Taxes-on-Taxes Add Over $250K to a Vancouver CondoHosted 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.
Listen to The Missing Middle with Mike Moffatt and Sabrina Maddeaux, Pod Save America and many other podcasts from around the world with the radio.net app
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