The Missing Middle Podcast

In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux dig into why homeownership for Canadians under 40 has fallen off a cliff. Spoiler: it’s not just zoning, NIMBYs, or avocado toast. The federal government plays a much bigger role in today’s housing mess than it likes to admit.

They break down how rapid population growth collided with a massive slowdown in building family-sized homes, why “dog-crate condos” became the default housing plan, and how taxes, development charges, and investors quietly push prices even higher. They also ask the uncomfortable question: do first-time buyer programs actually help young people — or just lock in high prices?

From down payments that feel impossible, to policies that accidentally reward investors over families, this episode gets into what’s broken, who benefits, and what Ottawa could actually do if it wanted to bring the dream of homeownership back to life.

If you’ve ever wondered how Canada managed to make buying a home feel impossible — this one’s for you.

00:00 – Intro: Is the dream of homeownership dead?
01:08 – The Federal Role: Debunking the "Provincial Responsibility" trope
01:58 – How Federal immigration and monetary policy impact housing
04:12 – A Blueprint to Restore Homeownership: The 4 big hurdles
06:30 – Not All Units are Equal
10:22 – How Population Growth Affects Supply and Demand
12:06 – Time to Reduce Taxes on Homes
14:05 – Making It Easier for First-Time Buyers
16:14 – Will these Policies just Drive Prices Up?
17:59 – The "Second-Time Buyer" crisis and downsizing seniors
21:09 – Incentivizing Seniors to Downsize
22:00 - Getting investors out of single-family homes: The MURB plan

Research/Links
A Blueprint to Restore Homeownership for Young Canadians
https://www.missingmiddleinitiative.ca/p/a-blueprint-to-restore-homeownership

The Quiet Death of the Investor Condo? MURBs May Change the Game
https://www.missingmiddleinitiative.ca/p/the-quiet-death-of-the-investor-condo

How to get single family homes out of the hands of investors
https://www.thestar.com/opinion/contributors/this-is-how-the-government-can-get-single-family-homes-out-of-the-hands-of/article_0f92b0f4-e67e-4a84-aa62-2c9316492363.html

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.

Do you actually own the things you pay for anymore?
In this episode of the Missing Middle Podcast, economist Mike Moffatt and Cara Stern explore how ownership is quietly disappearing from everyday life—and what that means for consumers, younger generations, and the economy as a whole.
From streaming services and digital books to video games, cars, exercise bikes, and even housing, more and more products are shifting from one-time purchases to subscription-based access. While these models offer convenience and regular updates, they also raise serious concerns about control, pricing, and long-term access.
Mike and Cara examine the “illusion of ownership” and more about “constrained optimization,” where economic circumstances make traditional ownership nearly impossible for younger generations. Questioning if we are being pushed into a future where the top 0.001% owns all assets while the middle class is permanently transformed into a generation of renters. Mike and Cara break down the policy choices required to reclaim property rights and protect the Canadian dream of actually owning the things you pay for.
Is society moving toward a future where access replaces ownership? And what do we give up when that happens?
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Chapters:
00:00 Introduction
00:56 What was the best year for music ever?
02:13 The loss of physical media
03:30 Millennials and the benefits of digital
05:37 The illusion of digital ownership and revoked access 
06:40 Digital subscription models 
10:10 Rentier capitalism 
12:35 The benefits and downsides of subscription 
14:04 Two schools of thought on ownership 
15:30 Constrained optimization in housing and cars 
18:07 The future of ownership and rentier capitalism
19:26 You'll own nothing and be happy
 20:47 A way out: The right to repair

Research/links:
https://blog.roonlabs.com/44-days-in-91/

Welcome to 2030. I own nothing, have no privacy, and life has never been better
Welcome to 2030. I own nothing, have no privacy, and life has never been better | by World Economic Forum | World Economic Forum | Medium
https://medium.com/world-economic-forum/welcome-to-2030-i-own-nothing-have-no-privacy-and-life-has-never-been-better-ee2eed62f710

You'll own nothing and be happy
https://en.wikipedia.org/wiki/You%27ll_own_nothing_and_be_happy

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.

From breath mints and car break-ins to bouncers at the Rogers store, urban life is starting to feel a lot more “on alert.” In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux examine the rise of crime and disorder in our cities, as well as the disturbing data behind transit violence. However, this isn’t just about safety; it’s about the future of our neighbourhoods. If people don’t feel safe on the streetcar or the sidewalk, can we ever truly build the dense, walkable, “missing middle” communities Canada so desperately needs?
This surge in disorder acts as a "hidden tax" on urban living, forcing residents to choose between the convenience of the city and the perceived security of the suburbs. By analyzing these shifts, we uncover how a lack of safety might be the biggest hurdle yet to solving our housing goals.
Chapters:
00:00 Introduction: Crime, Disorder, and the Future of Cities
00:50 Car Break-ins and Security Measures
04:23 Personal Experiences on the Streetcar
05:02 By the Numbers: Rising Assaults on Canadian Transit
07:07 Why Density Requires Public Trust
09:00 Why Spouting Stats Doesn't Change Minds
13:58 The Political Disconnect on Urban Safety
16:49 Finding Solutions: Justice Reform and Mental Health
18:10 Why "visible progress" matters more than spreadsheets

Research links:

Transit violence rising across Canada — in some cities by nearly 300%

Chris Arnande tweet

The Slow-Motion Exodus: How GTA Outmigration Became Ontario’s Defining Trend

The Politics of Safety: Why Bail Reform Is Striking a Chord with Canadians

Sabrina Maddeaux: Canada’s suburban crime surge is exposing years of national security neglect

It's Time to Talk About America's Disorder Problem

Related reading/listening:
OFF THE RAILS: Data exposes crime, mental illness at TTC’s track level
More than 70 per cent of Ontarians feel less safe on transit than a year ago, survey suggests
Homelessness, Social Disorder and Public Transit in Calgary, Canada: Examining perspectives from law enforcement through the lens of critical social theory

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.

From avocado toast jokes to accusations of entitlement, every generation seems to get its turn in the stereotype spotlight. In this episode of The Missing Middle, economist Mike Moffatt and journalist Cara Stern dig into where these labels come from — and, more importantly, whether generations really do experience the economy differently.

They explore how major historical shocks — from the Great Depression and World War II to 9/11, the Great Recession, and the pandemic — shape our values, anxieties, and opportunities. The conversation moves beyond clichés to examine how birth year, cohort size, housing markets, job markets, technology, and public policy combine to create very different economic realities for Boomers, Gen X, Millennials, and Gen Z.

Chapters:
00:00 Introduction
00:37 Avocado toast & generational stereotypes
03:25 Horriscopes for statistical nerds?
04:46 The history of grouping people into generations
06:41 Mike’s genX and Cara’s millennial experiences 
13:24 Understanding generational differences
15:55 Generation size, power & public Policy
19:40 Inherited wealth & pulling the ladder up
22:30 The ethos of DemograFix

Research/links:
https://marcuse.faculty.history.ucsb.edu/classes/201/articles/27MannheimGenerations.pdf

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.

Ontario’s Greenbelt is often treated as untouchable — but is it actually making the housing crisis worse?In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux tackle the question viewers keep asking: can Ontario build enough family-friendly homes without touching the Greenbelt — and what happens if it doesn’t? They unpack how the Greenbelt was sold as a social contract, why governments never delivered the missing middle housing they promised, and how policies meant to stop sprawl may have actually pushed families farther away.
The conversation breaks down four realistic paths forward: doing nothing, finally legalizing family-sized infill housing, cutting immigration to ease demand, or partially opening the Greenbelt — and why every option is politically fraught. Along the way, they explain leapfrog sprawl, why condos aren’t working for families, and how decades of policy avoidance have left young Canadians priced out and disillusioned.
If you care about housing affordability, family-friendly neighborhoods, or the future of Ontario’s cities, this episode lays out the uncomfortable trade-offs politicians keep avoiding.

Chapters:

00:00 – Introduction
00:47 – The Most Common Audience Question
01:50 – Is the Greenbelt Politically Untouchable Now?
05:23 – The Greenbelt’s Broken Social Contract
10:05 – What Families Actually Need in a Home
11:35 – How the Greenbelt Makes Sprawl Worse
14:00 – Has Anyone Studied Greenbelt Sprawl?
15:00 – Four Options for Housing vs the Greenbelt
15:53 - Option 1: Do Nothing
18:31 – Option 2: Fix Housing Without Expansion
23:48 – Option 3: Cutting Immigration
27:15 – Option 4: Opening the Greenbelt
29:55 – What’s Most Likely to Happen Next?

Research/links:
Mike’s tweet
https://x.com/MikePMoffatt/status/1991593178085142851?s=20

London’s Garden Belt:
https://x.com/JenMTreadwell/status/2001256081188905271?s=20

The Welfare Effects of Greenbelt Policy: Evidence from England
https://academic.oup.com/ej/article/134/657/363/7276598

Green Belts: Past; present; future?
https://www.routledge.com/Green-Belts-Past-present-future/Sturzaker-Mell/p/book/9781138339392

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.