The Missing Middle Podcast

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/

Canada needs more housing, but building in existing neighbourhoods often faces strong local opposition. Could gentle density be a solution?
In this episode of DemograFix, Cara Stern and Mike Moffatt discuss how infill housing, form-based zoning, and streamlined regulations could help Canada build more family-friendly homes while balancing concerns about neighbourhood character, infrastructure, parking, and density. They also examine multiplex debates in Toronto and Calgary, and whether zoning reform and condo rules are limiting new homeownership opportunities.
Topics covered:
What is gentle density?
Why Canada needs more family-friendly housing
The fight over multiplexes and infill housing
Toronto's sixplex debate
Calgary's citywide upzoning rollback
Form-based zoning explained
Zoning vs. building code
How standardized zoning could reduce red tape
Parking, infrastructure, and neighbourhood concerns
Creating more homeownership opportunities through gentle density
Condo regulations and small-scale housing
British Columbia's small-scale, multi-unit housing approach
What Oregon is doing differently
Should gentle density start with greenfield development?
Can gentle density overcome NIMBY and YIMBY opposition?

Chapters:
00:00 – Canada’s Housing Problem and the Case for Gentle Density
01:25 – The Three Ways Cities Can Build More Housing
03:00 – Why Multiplexes Face Local Opposition
04:35 – Toronto’s Controversial Station Road Eightplex
06:15 – Calgary’s Upzoning Rollback
07:30 – What Is Gentle Density?
08:20 – Objection #1: Buildings Are Too Tall
09:35 – Form-Based Zoning Explained
11:05 – Zoning vs. Building Codes
12:15 – Objection #2: Buildings Are Too Large
13:05 – Objection #3: Parking and Infrastructure
14:25 – Can Gentle Density Benefit Existing Homeowners?
16:10 – Tiny Homes and Pocket Neighbourhoods
17:25 – Does Density Mean More Rental Housing?
19:00 – Making Small-Scale Homeownership Easier
20:25 – What Canada Can Learn From B.C. and Oregon
21:45 – Where Should Gentle Density Start?
23:00 – Can Gentle Density Actually Get Political Support?
24:15 – NIMBYs vs. YIMBYs: Is Gentle Density Too Mild?
25:00 – Moving Beyond Arbitrary Unit Counts

Research/links:

MMI Gentle Density Report: https://www.missingmiddleinitiative.ca/p/from-policy-gridlock-to-housing-growth 

NIMBYs will Fight Even the Gentlest of Density
https://youtu.be/6WavljFV7fM?si=geir1FhAbhdgliv_

Nightmare on Craven Road: When Local Politics Derail Citywide Housing Goals
https://youtu.be/qVQ4gQRnOss?si=RFywNBKZedLERiuj

2025 Statcan Study: https://www150.statcan.gc.ca/n1/pub/36-28-0001/2025005/article/00003-eng.htm

2026 Statcan Study: https://www150.statcan.gc.ca/n1/pub/46-28-0001/2026001/article/00002-eng.htm

Toronto:
https://toronto.citynews.ca/2026/04/22/etobicoke-eightplex-site-mimico-residents-developer-toronto/

Calgary:
https://calgary.citynews.ca/2026/04/22/calgary-federal-housing-funds/ 

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