In this episode of The Missing Middle, Cara Stern and Mike Moffatt dive into how Canada's low-wage Temporary Foreign Worker (TFW) program and the explosion of international student work caps have completely disrupted the laws of supply and demand. As Canadian youth face historic unemployment rates, we break down how corporate lobbying and government policy created a cheat code that insulates businesses from capitalism, while pushing young workers off the first rung of the career ladder.

From the housing crisis in Alberta's mountain tourist towns to Tim Hortons' recent PR scramble, we expose the loop of corporate reliance on exploitable temporary labor and ask: how do we let the market actually fix itself?

Topics covered:

• Canada's rising youth unemployment rate
• The Temporary Foreign Worker Program explained
• How international student work rules affect the job market
• Why labour shortages don't always mean there aren't enough workers
• Seasonal jobs, tourism, and staff housing
• The economics of wages, supply, and demand
• Tim Hortons and the TFW controversy
• Policy solutions to improve opportunities for young Canadians

#Canada #YouthUnemployment #TemporaryForeignWorkers #Jobs #CanadianEconomy #LabourMarket #Economics #Immigration #PublicPolicy #MissingMiddle

Chapters:

00:00 - The Free Market Myth in Canada
01:24 - Gen Z vs. Gen X: The Youth Unemployment Crisis
02:12 - Why Student Jobs Suddenly Vanished
03:32 - How the TFW Program Ballooned Over 50 Years
05:39 - The Corporate Lobbying Flipping Immigration Rules
07:11 - Debunking the Alberta "Labour Shortage"
09:47 - Why Canada Insulates Businesses From Capitalism
11:11 - What "Dirty Dancing" Teaches Us About Seasonal Housing
14:06 - The Dark Side of Temporary Work Regulations
16:02 - Exposing Tim Hortons' "Local Hiring" PR Spin
18:57 - How to Break the TFW Doom Loop

Research/links:

Tourist towns ‘desperate’ for workers in Alberta

https://www.cp24.com/news/2026/03/28/i-have-to-find-at-least-35-people-before-june-1-worker-shortages-in-albertas-tourist-towns/

Tim Hortons says it will hire locals, scale back temporary foreign workers

https://globalnews.ca/news/11863474/tim-hortons-temporary-foreign-workers/

Tim Hortons is Committed to Local Hiring Launching National Campaign to Hire 10,000 Local Team Members 

https://www.news.timhortons.ca/en/articles/tim-hortons-is-committed-to-local-hiring-launching-national-camp

Youth unemployment in Canada jumped 57% in 3 years, hitting levels previously unseen outside a recession

https://thehub.ca/2026/05/07/canadas-youth-unemployment-jumped-57-in-3-years-hit-unprecedented-jobless-levels-outside-recession-by-2025/

Youth unemployment in Canada near record highs since 2022; unprecedented levels outside of a recession

https://www.fraserinstitute.org/studies/extraordinary-increase-youth-unemployment-canada

https://www.fraserinstitute.org/sites/default/files/2026-04/extraordinary-increase-of-youth-unemployment-in-canada.pdf

Temporary ForeignWorkers in Canada:Are They Really Filling Labour Shortages?

https://cdhowe.org/wp-content/uploads/2024/04/commentary_407.pdf

StatsCan: Drayton Valley statistical area sees lowest unemployment in Alberta at 4.9 per cent

https://www.bigwestcountry.ca/2026/06/05/statscan-drayton-valley-statistical-area-sees-lowest-unemployment-in-alberta-at-4-9-per-cent/#:~:text=According%20to%20the%20latest%20Labour,5.3%20per%20cent%20in%20April

Canada’s Temporary Foreign Worker Programs - The Canadian Encyclopedia

https://thecanadianencyclopedia.ca/en/article/canadas-temporary-foreign-worker-programs

Businesses face new limits on temporary foreign worker program

https://www.cbc.ca/news/business/tfw-program-new-limits-1.7333777

3 problems with the temporary foreign worker program and 3 possible fixes, according to experts

https://www.cbc.ca/news/canada/calgary/temporary-foreign-worker-program-fixes-1.7633045

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of Classonomics, Mike Moffatt and Sabrina Maddeaux explore the data behind Canada's urban migration trends and debate why affordability isn't the only factor driving people away. They discuss housing costs, crime and public safety, mental health, community, urban planning, and whether government policies are making sprawl even worse.

Topics covered:

• Why Canadians are leaving the GTA, Metro Vancouver, and Montreal
• Why return-to-office hasn't reversed the trend
• Housing affordability and the shortage of family-sized homes
• Crime, public safety, and quality of life in big cities
• Mental health, community, and life satisfaction
• Urban growth boundaries, the Greenbelt, and sprawl
• Why smaller cities are attracting young families
• What policymakers are getting wrong about housing and urban planning

Subscribe for more conversations on housing, economics, public policy, and the future of Canada.

Chapters: 

00:00 The Great Canadian Family Exodus
01:05 Mike's Biggest Prediction Miss
03:05 Why Millennials Are Leaving Cities
04:17 Is Toronto Becoming Too Chaotic?
06:22 Does Crime Make Families Move?
09:44 Are Small Towns Better for Mental Health?
11:57 Why Community Matters More Than Ever
14:32 It All Comes Back to Housing
15:35 The Greenbelt's Unintended Consequences
17:29 When Good Environmental Policy Goes Wrong
18:40 The Case for Evidence-Based Policy

Research/links:

Housing is a large part of the story. The OECD has examined this:

https://www.oecd.org/en/publications/2025/05/oecd-economic-surveys-canada-2025_ee18a269/full-report/improving-housing-affordability_3d430d2e.html

As has Statistics Canada: https://www150.statcan.gc.ca/n1/daily-quotidien/241119/dq241119b-eng.htm 

Remote Work and Employment Dynamics under COVID-19: Evidence from Canada

 https://pmc.ncbi.nlm.nih.gov/articles/PMC7971424/

Upjohn Institute: https://www.upjohn.org/remote-works-quiet-impact-rural-communities

C.D. Howe: https://cdhowe.org/publication/settling-new-normal-working-home-across-canada/ 

Social ties and quality of life, including lower rates of depression: https://www150.statcan.gc.ca/n1/pub/75-006-x/2025002/article/00003-eng.htm 

https://pubmed.ncbi.nlm.nih.gov/20376426/ 

https://www.theglobeandmail.com/life/home-and-design/article-why-some-people-are-choosing-country-life-over-the-city/ 

Though evidence is nuanced: https://www.cmaj.ca/content/184/17/E889 

Crime and disorder:

https://macdonaldlaurier.ca/urban-violent-crime-report-comparing-crime-across-canadian-cities-volume-2/

https://www150.statcan.gc.ca/n1/pub/85-002-x/2025001/article/00005-eng.htm 

McDonald-Laurier Report: https://macdonaldlaurier.ca/wp-content/uploads/2025/11/Urban-Violent-Crime-Report_Final.pdf 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of DemograFix Cara Stern talks with Jasmine Steffler (from Walkable Parenthood and Oh The Urbanity!) about her experience navigating parental leave. From understanding benefits and income replacement to finding childcare, building community, and adjusting to life with a new baby, Cara and Jasmine know what it takes to grow a family in Canada.

If you're expecting a child or planning a family, this conversation covers many of the practical questions parents have before taking leave:

✅ How parental leave and EI benefits work in Canada

✅ The difference between 12- and 18-month leave options

✅ Why Quebec's parental leave system is different

✅ How much income you can expect while on leave

✅ Finding daycare and understanding childcare costs

✅ Building community and avoiding isolation during leave

✅ Life with a baby in a walkable city without owning a car

✅ What we wish we knew before taking leave

Chapters:

00:00 Introduction to Canadian Parental Leave

00:48 Understanding Parental Leave Policies

02:29 Choosing the Length of Leave

02:51 The Quebec Parental Insurance Plan vs. Other Provinces

05:08 Navigating the Childcare System

06:15 Financial Challenges and Income Replacement

07:50 Walking and Cycling Without a Car

10:19 Finding Community During Parental Leave

12:50 Lessons Learned and Future Considerations

15:55 Traveling with a Young Child

16:49 Conclusion and Outro

Research/links:

The effect of leave policies on increasing fertility: a systematic review | Humanities and Social Sciences Communications 

https://www.nature.com/articles/s41599-022-01270-w

(PDF) Does Parental Leave Affect Fertility and Return-to-Work? Evidence from a "True Natural Experiment" 

https://www.researchgate.net/publication/5135837_Does_Parental_Leave_Affect_Fertility_and_Return-to-Work_Evidence_from_a_True_Natural_Experiment

The Daily — Fertility and baby names, 2024 

https://www150.statcan.gc.ca/n1/daily-quotidien/250924/dq250924d-eng.htm

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this special Canada Day episode of The Missing Middle Podcast, the team takes a break from focusing on Canada's challenges to share what makes them optimistic about the country's future. From housing reforms and immigration to education, community, nature, and Canadian values, each member reflects on what they love most about Canada and why they remain hopeful.

Topics covered:

• Housing reform and recent progress on zoning and development charges
• Canada's sense of community and belonging
• Education affordability and student experiences
• Immigration and Canada's multicultural identity
• Nature, cities, and public spaces
• Canadian humour, humility, and culture
• Canadian values, civic engagement, and democracy
• Why constructive criticism is a form of patriotism
• What gives Canadians reason for optimism heading into the future

What makes you optimistic about Canada? Let us know in the comments below. 

#CanadaDay #Canada #TheMissingMiddle #CanadaHousing #CanadianEconomy #CanadianValues

Chapters:

YouTube Chapters (8:52)

00:00 Why We're Talking About Optimism This Canada Day
00:40 Cara Stern: Summers, Housing & Reasons for Optimism
01:43 Sean Foreman: Canada's Secret Weapon is Humour
02:57 Kelly Hoban: An American's Perspective on Canada
03:52 Meredith Martin: Nature, Immigration & Hope
05:36 Sabrina Maddeaux: Canadian Values, Kindness & Common Sense
07:48 Mike Moffatt: Why Criticism Is Patriotism

Research/Links:

A History of Tommy Thompson Park

https://trca.ca/news/tommy-thompson-park-history/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of the Demografix, Mike Moffatt and Cara Stern unpack a major problem hidden inside Canada's housing statistics: the country is building fewer family-sized homes than it did 20 years ago.

Why are three-bedroom homes becoming so difficult to find? Why are developers building more small condos instead of homes for families? And how do zoning rules, development charges, land shortages, and housing policies shape what gets built?

The conversation explores:

• Why housing "units" and housing "homes" are not the same thing
• The dramatic decline in single-detached homes, semis, and townhouses
• Why family-sized condos remain rare and expensive
• How rising land costs and government policies affect housing supply
• The connection between housing affordability and Canada's falling birth rate
• Why many young families are leaving major cities
• Policy solutions that could help create more family-friendly housing

If Canada wants cities that work for young families, workers, and future generations, we need to start measuring success by more than just the number of housing units built.

Chapters:

00:55 What Families Actually Need In A Home

02:00 Why Three-Bedroom Apartments Are So Rare

04:09 Why Condos Stop Making Sense For Families

05:00 Canada Is Building Fewer Family-Sized Homes

07:06 The Problem With Counting “Units” Instead Of Homes

09:03 Who Shoebox Condos Actually Work For

10:07 If Demand Is Strong, Why Aren’t Builders Responding?

12:14 Why The GTA Builds Fewer Family Homes

14:02 Urban Boundaries, Sprawl, And Long Commutes

15:16 Taxes And Fees That Favor McMansions

16:52 Why Developers Don’t Build Family-Sized Apartments

18:28 Housing Costs, Birth Rates, And Families Leaving Cities

22:05 How Canada Could Fix Family Housing

Research/links:

From Policy Gridlock to Housing Growth: A Roadmap for Gentle Density

https://www.missingmiddleinitiative.ca/p/from-policy-gridlock-to-housing-growth 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode, Mike Moffatt and Sabrina Maddeaux dive into the real costs of hosting the world's biggest party. They break down the billion-dollar price tags, FIFA's business model, and whether taxpayers are getting stuck with the bill while others reap the rewards. (Producer note: This episode was recorded on June 5th, 2026.)

Topics covered:

• The economics of hosting the FIFA World Cup
• Why economists question projected economic benefits
• Public spending on stadiums, security, and infrastructure
• Tourism displacement and local business impacts
• Housing, short-term rentals, and affordability concerns
• FIFA's revenue model and tax treatment
• Transit, traffic, and quality-of-life effects for residents
• Lessons from previous World Cup host countries
• Dynamic ticket pricing and the changing fan experience

If you enjoy thoughtful discussions on housing, infrastructure, public policy, and the economic issues affecting Canada's middle class, subscribe for more episodes from The Missing Middle.

Chapters:

00:00 The World Cup's Economic Myth
00:49 The Benefits Nobody Talks About
03:32 Can Hosting the World Cup Actually Lose Money?
05:11 Why More Tourists Doesn't Mean More Growth
07:00 Who's Really Paying the $1 Billion Bill?
08:23 FIFA's Billion-Dollar Business Model
09:19 Cities Pay, FIFA Profits
10:39 The Tax Breaks You Didn't Know About
12:27 The Hidden Costs for Residents
15:21 What Past World Cups Teach Us
17:07 Are These Games Worth the Price?
17:49 Why World Cup Tickets Are Exploding in Cost
19:22 The People's Game or a VIP Experience?

Research:

BMO Capital Markets -- Canada World Cup GDP boost (up to $6.5B):

https://www.wealthprofessional.ca/news/industry-news/bmo-world-cup-2026-set-to-deliver-up-to-c65-billion-economic-boost-for-canada/392593

The World Cup is expensive, but it’s our turn to pick up the tab

https://www.theglobeandmail.com/sports/soccer/article-the-world-cup-is-expensive-but-its-our-turn-to-pick-up-the-tab/

ProPublica -- 'You do, you pay, we take': how FIFA's host city deals work:

https://www.propublica.org/article/world-cup-2026-host-cities-revenue-houston

CBC -- FIFA/Deloitte economic impact assessment for Canada ($3.8B figure):

https://www.cbc.ca/sports/soccer/world-cup-2026-canada-fifa-economic-benefits-1.7406435 

BNN Bloomberg -- Why economic impact on Vancouver and Toronto may never be known:

https://www.bnnbloomberg.ca/business/economics/2026/05/11/blind-side-why-world-cup-economic-impact-on-vancouver-and-toronto-may-never-be-known/

Bloomberg Tax -- FIFA 2026 World Cup tax demands on host countries:

https://news.bloombergtax.com/tax-management-international/fifa-2026-world-cup-blows-the-whistle-on-complex-tax-risks

CP24 -- Toronto holds transit fares steady; NJ Transit $48M bill; Boston $80 game-day fare:

https://www.cp24.com/local/toronto/2026/04/16/toronto-will-not-hike-cost-of-transit-during-world-cup-as-other-host-cities-announce-big-fare-increases-to-venues/

ESPN -- World Cup ticket sticker shock and dynamic pricing:

https://www.espn.com/soccer/story/_/id/48947095/2026-fifa-world-cup-sticker-shock-ugly-cost-beautiful-game-grand-event

Victor Matheson / Holy Cross -- The Economics of the World Cup (academic; stadium white elephants, tourism overestimates):

https://hcapps.holycross.edu/hcs/RePEc/hcx/HC1805-Matheson_WorldCup.pdf

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

This week on DemograFix, Mike and Cara dive into the idea of “housing triage”: should governments focus on ending homelessness first, then tackle affordable housing for low-income Canadians, and only later address the middle-class housing crisis? Or is that a false choice?

They discuss:
-Why some advocates think housing should be solved in stages.
-Whether building more market-rate homes actually helps reduce homelessness.
-What a 2060 affordability target means for young Canadians trying to build a life.
-The politics of falling home prices—and why governments avoid the conversation.
-Whether Canada can solve the housing crisis without asking a generation to wait decades for a home.

Can we afford to prioritize one housing crisis over another? Or does solving the housing shortage mean tackling them all at once?

#Housing #CanadaHousing #HousingCrisis #RealEstate #AffordableHousing #Homeownership #CanadianPolitics #HousingPolicy #MissingMiddlePodcast

Chapters:

00:00 Housing Triage: Who Should Be Helped First?

00:01 What Is the Federal Housing Advocate?

00:03 Why the Report Says Housing Won't Be Affordable Until 2060

00:05 Should Young Canadians Accept a Lifetime of Unaffordability?

00:07 The Flaw in Treating Housing Like a Zero-Sum Game

00:09 Why Building More Homes Helps Reduce Homelessness

00:11 Can Canada Solve the Housing Crisis Within a Decade?

00:13 Why Governments Keep Missing Housing Targets

00:14 The Politics of Lower Home Prices

00:17 What Happens If Young Canadians Give Up on Canada?

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Topics covered:
• The Cowichan land title ruling and B.C. real estate uncertainty
• Vancouver vs. Toronto housing market slowdown
• Falling condo prices and investor selloffs
• Rising vacancy rates and declining rents
• The collapse of Canada’s condo pre-sale market
• Purpose-built rentals and developer pullback
• B.C.’s rent control policies
• Calgary’s zoning and density debate
• Immigration, population growth, and housing demand
• The future of housing affordability in Canada

Chapters:

0:00 Canada’s Housing Market Is Shifting Fast
1:12 Introducing Steve Saretsky & B.C. Housing Challenges
2:18 The Cowichan Land Title Ruling Explained
5:20 Why Banks and Buyers Are Nervous About B.C. Real Estate
8:14 Political Fallout in British Columbia
11:02 Vancouver’s Housing Market Slowdown
13:40 Condo Investors Are Exiting the Market
16:28 Rising Vacancy Rates & Falling Rents
19:11 The Collapse of Canada’s Pre-Construction Condo Market
22:05 Why Developers Are Pulling Back on New Projects
24:37 B.C. Rent Control and Its Market Impact
27:02 Calgary’s Zoning Backlash and Density Debate
30:01 Immigration, Rental Demand & Housing Pressure
32:18 The Future of Family-Friendly Housing in Canada
33:40 Final Thoughts on Canada’s Housing Future

Research links:

The Cowichan ruling isn’t a threat to private property

https://policyoptions.irpp.org/2025/12/cowichan-land-ruling-explained/

To recognize aboriginal title is not to abolish property rights, but to uphold them

https://www.theglobeandmail.com/opinion/article-cowichan-aboriginal-first-nation-indigenous-property-rights/

What the Musqueam rights recognition agreement means and what it doesn’t

https://www.cbc.ca/news/canada/british-columbia/musqueam-rights-recognition-agreement-explained-9.7128504

Real-estate firm bulk buys $30 million of downtown Toronto condos: ‘They’re sitting empty’

https://www.thestar.com/real-estate/real-estate-firm-bulk-buys-30-million-of-downtown-toronto-condos-theyre-sitting-empty/article_899ba81b-b385-43ad-9370-86178d487187.html

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Topics Covered:
• Baby Boomers and the housing market
• Immigration and housing demand
• Canada’s aging population
• Family-sized housing shortages
• Suburban vs. urban living
• Housing affordability
• Population growth and the economy
• The future of Canadian housing policy

#HousingCrisis #CanadaHousing #RealEstate #HousingAffordability #Immigration #HousingMarket #CanadianEconomy #MissingMiddlePodcast

Chapters:

00:00 Will Baby Boomers Solve the Housing Crisis?
01:28 The Theory: A Coming Flood of Family Homes
03:35 Why Demographics Alone Don't Tell the Full Story
05:55 Immigration and Canada's Population Growth
08:22 Will Canada Be Able to Attract Future Immigrants?
10:30 The Missing Supply of Family-Sized Homes
13:12 Why Suburban Living Isn't Going Away
15:40 Are Planners Misreading Housing Demand?
18:05 What Could Actually Cause a Housing Glut?
20:45 Regional Winners and Losers in Canada's Housing Market
22:15 Team Affordability vs. Team Housing Shortage

Research/links:

Mike’s piece at the Globe: https://www.theglobeandmail.com/investing/personal-finance/article-housing-baby-boomers-suburban-homes-young-families/

Statcan population projections: https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=1710005801 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Topics covered include:
• Why young families are leaving Toronto and the GTA
• The rise of tiny “dog crate” condos
• Why missing middle housing is so difficult to build
• Zoning delays, development charges, and housing red tape
• The future of rentals, condos, and home prices
• The Greenbelt debate and urban sprawl
• Whether Toronto can still work for middle-class families
• Why more young Canadians are leaving Ontario and Canada
• Non-market housing, affordability, and the politics shaping the city’s future

Subscribe for more conversations on housing, affordability, and the future of Canada’s middle class.

Chapters:

0:00 – Live From Toronto: The Housing Crisis Debate Begins
1:42 – Why Young Families Are Leaving Toronto
5:08 – The Reality of Buying a Home in the GTA
8:11 – Why Toronto Only Builds Mansions or Tiny Condos
11:24 – Are “Dog Crate” Condos Doomed?
14:37 – Missing Middle Housing & Zoning Failures
18:02 – The Greenbelt, Sprawl, and Housing Politics
21:10 – Renting for Life in Toronto
24:02 – Should Young Buyers Wait to Purchase?
26:12 – Non-Market Housing vs Market Housing
29:04 – Predictions for Toronto’s Housing Future

Research:

‘It’s not like we’re sitting on our hands.’ Toronto’s biggest landlord sees 7 more complexes fall into critical disrepair

https://www.thestar.com/news/gta/it-s-not-like-we-re-sitting-on-our-hands-torontos-biggest-landlord-sees-7/article_dc443926-e4b8-11ef-ab56-6f7d86f12c53.html

Drug deals in doorways and a stranger in the living room: Why Toronto Community Housing residents say its $38M security force is failing them

https://www.thestar.com/news/gta/drug-deals-in-doorways-and-a-stranger-in-the-living-room-why-toronto-community-housing/article_2b7633ac-d86b-4fde-9e4e-5e308f4dff5a.html

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

From scouting and volunteering to neighbourhood pubs, churches, and “third spaces,” they explore why strong communities don’t happen automatically, how urban design shapes social connection, and why so many people feel isolated despite living closer together than ever before. They also discuss parenting, trust, loneliness, suburban life, condo living, and the importance of showing up for your neighbours.

Topics covered:

• Why people feel more isolated today
• The decline of volunteering in Canada
• How urban design affects community
• Why “third spaces” matter
• Parenting, support systems, and “the village”
• High-trust vs low-trust societies
• How scouting builds community and leadership
• What it takes to know your neighbours again

Subscribe for more conversations on housing, cities, policy, and the future of Canada.

Chapters:

00:00 Why Community Is More Than Good Urban Design
02:22 Scouts, Service, and Teaching Kids to Contribute
04:04 Why Modern Life Makes Community Harder to Build
07:47 Third Places, Neighbours, and High-Trust Communities
11:55 A Surprise Pie and the Power of Trust
14:55 Finding Community Through Volunteering and Shared Purpose
17:17 You Have to Be a Villager to Have a Village
19:34 Can We Design Communities That Bring People Together?

Research/links:

» Volunteer wellbeing: what works and who benefits? 

https://whatworkswellbeing.org/resources/volunteer-wellbeing-what-works-and-who-benefits/ 

Exploring the Effects of Volunteering on the Social, Mental, and Physical Health and Well-being of Volunteers: An Umbrella Review - PMC 

https://pmc.ncbi.nlm.nih.gov/articles/PMC10159229/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this listener Q&A episode of The Missing Middle, Sabrina Maddeaux and Cara Stern answer audience questions on housing affordability, immigration, downsizing, social isolation, wage stagnation, the Greenbelt, and why building more “missing middle” housing has become so difficult in Canada.

Topics covered:

• Why seniors aren’t downsizing
• The shortage of family-sized homes
• Housing prices vs stagnant wages
• Social isolation and unaffordable cities
• Immigration and housing demand
• The Greenbelt debate
• What young Canadians can do politically

If you enjoy the episode, subscribe and leave a comment with your own question for a future mailbag episode.

Eamon 

Seniors are lonely, rich, and live in houses that are too big, often in desirable neighbourhoods. Young people are desperate for housing, poor, and looking for roommates. Why not create a tax incentive for seniors to free up rooms in their houses for young people? I think a vacancy tax is punitive, but a tax incentive could unlock housing in a win-win (rather than zero sum) way for willing participants. Thoughts? 

Kate

In your second-time homebuyer article you mention that various government initiatives could lower newly built housing costs by up to 15% which would free up more family sized homes "making it easier for seniors to downsize". How would lowering the cost of newly built homes by 15% make it easier for seniors to downsize? In my view, the more significant factor facing senior downsizers is not the cost of new housing but the scarcity of appealing post-move options for them. 

Mary (edited for length) 

I am a boomer with two millennial children who haven't yet reached middle-class milestones like stable employment or homeownership. I believe factors other than parental status are at play: 1) Are houses more expensive, or are incomes simply failing to keep up with declining purchasing power? 2) Given the rise in single-person households, why is there so much social isolation, and how does the difficulty of making connections in urban environments impact the ability for young people to save and enter the housing market?

Chris Jeanneret and came from the comments section of our Greenbelt episode: 

Is the Greenbelt even practical for "affordable" housing, or does it only provide more land for luxury country estates? 

@canucklhead 

Isn't the obvious solution here to keep immigration low for the next few years to keep pressuring rents lower? Wouldn't this be the easiest solution to help affordability for everyone? 


Emily writes: 

I see what is happening to those under 25 and it is awful. How can I get involved? What steps can I take that will make the most difference? Do you know of a group in Edmonton organizing that is making a real difference especially in the "missing middle". 

Chapters: 

00:00Mailbag Special: Your Housing Questions Answered

00:23Should Seniors Rent Out Empty Bedrooms?

02:57Will Cheaper New Homes Help Seniors Downsize?

05:07Why Millennials Are Falling Behind

06:00Social Isolation, Third Places & Housing Costs

08:05How Housing Affordability Breaks Friendships and Communities

10:54Can the Greenbelt Deliver Affordable Housing?

12:43Is Lower Immigration the Fastest Path to Affordability?

14:16What Canadians Can Do to Push for Change

Research/links:

The Disappearing "Third Place": Why Making Friends Is Getting Harder

https://youtu.be/WYFTsrvwr0o?si=IIGS4jllTN2dKT5h

Grow Together Edmonton

https://www.growtogetheryeg.com/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of DemograFix, ⁠Mike Moffatt and ⁠Cara Stern break down the data behind Canada’s collapsing birth rate. They explore why more women are remaining childless, why one-child families have become the norm, and how housing costs, delayed parenthood, childcare, culture, and changing lifestyles are reshaping family formation across the country.

Topics discussed:

• Why Vancouver and Victoria have some of the world’s lowest fertility rates
• The surprising link between housing affordability and birth rates
• Why millennials and Gen Z still say they want kids
• How family sizes changed from the 1980s to today
• Whether education actually reduces fertility
• Why cities are losing young families
• The growing gap between the number of children Canadians want and the number they actually have

If Canada wants higher birth rates, what would it actually take to make raising children affordable again?

#Canada #HousingCrisis #FertilityRate #BirthRate #Millennials #GenZ #Economy #Housing #Population #Parenting #Childcare #CanadianPolitics #Demographics #TheMissingMiddle

Chapters:

00:00 Introduction: Canada’s Ultra-Low Fertility Rate

01:08 What Fertility Rates Measure — And Why Canada Is Different

01:59 Housing Costs, Cities, and Why Young Families Are Leaving

03:49 Are Fewer Women Having Children?

04:32 Delayed Parenthood and The Rise In Childlessness

06:01 Marriage, Religion, Immigration, and Fertility Trends

08:03 Does Higher Education Actually Reduce Birth Rates?

10:24 From Three-Child Families To One-Child Households

12:26 Housing Costs, Bedrooms, and Raising Kids In Canada

14:22 Canadians Still Want More Children

17:28 From Overpopulation Fears To Population Collapse

19:44 The Growing Gap Between Family Goals and Reality

20:05 What Governments Could Do To Make Raising Kids Easier

Research/links:

Proportion of women aged 20 to 49 without children, by age group and selected sociodemographic characteristics, 2024

https://www150.statcan.gc.ca/n1/daily-quotidien/260126/t001a-eng.htm

‘One and Done’ is the new norm: inside Canada’s growing one-child family trend

https://www.babycenter.ca/a25053886/one-and-done-is-the-new-norm-inside-Canadas-growing-one-child-family-trend 

Living arrangements of children in Canada: A century of change

https://publications.gc.ca/collections/collection_2014/statcan/75-006-x/75-006-2014001-4-eng.pdf

Fertility in Canada, 1921 to 2022

https://www150.statcan.gc.ca/n1/pub/91f0015m/91f0015m2024001-eng.htm 

Credits:

Mike Moffatt https://twitter.com/MikePMoffatt

https://bsky.app/profile/mikepmoffatt.bsky.social

Cara Stern https://x.com/carastern

https://bsky.app/profile/carastern.bsky.social

Meredith Martin  https://twitter.com/meredithmartin

https://bsky.app/profile/meredithmartin.bsky.social

Sean Foreman @seanegertonforeman

https://bsky.app/profile/seanforeman.bsky.social

University of Ottawa Co-op Student,  Kelly Hoban

Brought to you by the Missing Middle Initiative https://www.missingmiddleinitiative.ca/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of Classonomics Sabrina Maddeaux and Mike Moffatt break down Canada’s capital gains exemption on primary residences, why it exists, why politicians are terrified to touch it, and whether it’s contributing to skyrocketing home prices and inequality between homeowners and renters.

They explore the history of the tax exemption, why attempts to change it spark political outrage, how other countries handle housing taxes, and whether taxing home profits would actually make housing more affordable. Plus, they discuss property taxes, downsizing, investor advantages, generational inequality, and why even “common sense” housing reforms have become politically impossible in Canada.

Topics covered:

• Canada’s capital gains exemption on homes
• Housing affordability and inequality
• Why homeowners are politically powerful
• How other countries tax housing wealth
• Property taxes and downsizing
• Investors vs families in the housing market
• The politics of housing reform in Canada
• Why fixing housing has become so difficult

#Canada #HousingCrisis #RealEstate #Taxes #HousingMarket #CanadianPolitics #Economics #TheMissingMiddle

Chapters:

00:00 Why Canada Doesn’t Tax Gains on Your Primary Home
01:17 Why Politicians Won’t Touch the Primary Residence Exemption
04:06 The History of Canada’s Capital Gains Exemption
05:28 How Other Countries Handle Housing Capital Gains
07:25 Does the Exemption Actually Worsen the Housing Crisis?
10:39 The Case Against Taxing Primary Residences
13:26 Better Alternatives: Tax Fairness Without Capital Gains Reform
16:06 Why Even Good Housing Policy Can Be Politically Impossible

Research:

Canada should look to Australia on eliminating barriers to downsizing for seniors

https://www.theglobeandmail.com/investing/personal-finance/article-housing-baby-boomers-suburban-homes-young-families/

CBC article from a few years ago: https://www.cbc.ca/news/politics/the-conservatives-misleading-claims-about-a-secret-liberal-housing-tax-1.5312873 

26 of 40:

https://view.asiae.co.kr/en/article/2022032109551988175 

History of cap gains taxes:

https://www.ctf.ca/EN/EN/Newsletters/Perspectives/2021/3/210304.aspx

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of Classonomics, Mike Moffatt and Meredith Martin break down the proposed Canada Strong Fund, how sovereign wealth funds work, and why comparisons to Norway’s famous $2 trillion oil fund may not tell the full story. They explore whether debt-financed infrastructure investing can actually grow the economy, why critics are calling it a “sovereign debt fund,” and what this could mean for housing, ports, transit, energy infrastructure, and future generations of Canadians.

Topics covered:
• What sovereign wealth funds actually are
• How Norway built its trillion-dollar oil fund
• Why Canada is creating the Canada Strong Fund
• The debate over debt-financed infrastructure
• How infrastructure investment affects housing and economic growth
• The risks, criticisms, and unanswered questions surrounding the fund

Chapters: 

00:00 Introduction to Sovereign Wealth Funds

00:41 What is a Sovereign Wealth Fund?

01:29 Norway’s Two Sovereign Wealth Funds Explained

03:19 Why Norway Created a Second Fund

05:13 How Canada’s Fund Differs From Norway’s

06:28 Criticism Over Debt Financing

08:22 Will the Fund Benefit Future Generations?

09:58 Why the Announcement Confused Canadians

12:03 Final Thoughts And Outro

Research/links:

The Canada Strong Fund: Nation-Building or State Venture Capitalism?

https://www.asiapacific.ca/publication/canada-strong-fund-nation-building-or-state-venture-capitalism

What Canada can learn from Norway's Sovereign Wealth Fund

https://www.mjemcgill.com/articles/what-canada-can-learn-from-norways-sovereign-wealth-fund

Our pension funds must be sovereign wealth funds, too – even if pensioners take a hit

https://www.theglobeandmail.com/business/commentary/article-our-pension-funds-must-be-sovereign-wealth-funds-too-even-if/

Canada's spring budget projects economy to grow and deficit to fall

https://www.bbc.com/news/articles/cz0278zyznjo

Neither Norway nor Singapore: Decoding Canada’s new sovereign wealth fund

https://globalnews.ca/news/11825911/norway-singapore-canada-sovereign-wealth-fund/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of The Missing Middle Podcast, Mike Moffatt sits down with Kim Fairley, President of Ontario Real Estate Association (OREA), to unpack what Ontario’s new development charge reforms mean for homebuyers, builders, and municipalities – and what still needs to happen next.

They discuss:
 • Why development charges can add up to $200,000 to the cost of a new home in Ontario
 • How some Ontario cities have raised DCs by 1,000%–5,000% since 2000
 • Why Sault Ste. Marie has no development charges—and what other cities can learn from it
 • Whether recent provincial and federal reforms will actually improve affordability
 • What Ontario’s housing market could look like over the next 6–18 months

Chapters:

00:00 Intro: Ontario’s new development charge deal: what changes?

03:55 Is housing finally getting more affordable? 

05:14 Northern Ontario’s housing market: a different reality

07:09 Sault Ste. Marie has no development charges

08:07 Do buyers know how much development charges cost?

10:25 Why transparency on development charges matters

12:08 Lower housing costs without raising taxes? 

13:35 Do Ontarians support cutting development charges? 

16:07 Can politicians actually work together on housing? 

17:08 What happens next for Ontario housing? 

18:18 Progress made, but the hard part starts now 

Research/links:

How to Lower Development Charges Without Raising Property Taxes 

https://www.missingmiddleinitiative.ca/p/how-to-lower-development-charges

A Pathway to Development Charge Reform 

https://www.orea.com/advocacy/Development-Charge-Reform

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux break down the growing “brain drain” from Canada to the United States and the shocking proposal that young people who leave should pay a $500,000 exit fee.

They dig into what’s really driving this trend: unaffordable housing, stagnant wages, limited career opportunities, and policy decisions that increasingly favour older, wealthier generations.

This isn’t about loyalty. It’s about survival and a country that may no longer offer young people a path to the life their parents had.

📊 Topics covered:

• The truth about Canada’s brain drain
• Why young workers are choosing the U.S.
• The economics behind the productivity gap
• Immigration policy and labour market impacts
• Housing, wages, and generational inequality
• What Canada would need to do to win young people back

Chapters:

00:00 Introduction

01:00 Why Young Canadians Are Leaving

02:25 Cost Of Living And The U.S. Pull Factor

03:16 The Real Cost Of Brain Drain

04:05 Canada’s Productivity Problem

05:12 Punishing Young People Instead Of Fixing Problems

05:58 How Politics Shifted Against Younger Generations

07:14 Is Brain Drain Being Overblown?

08:02 Why The Viral Brain Drain Chart Misleads

08:50 Canada’s Record Emigration Problem

09:29 Losing The Best And Brightest

10:30 Immigration, Talent, And Retention Failures

11:14 Is Canada Becoming America’s Farm Team?

12:38 How Temporary Workers Changed The Labour Market

13:55 What Policies Could Win Young Canadians Back?

14:12 Housing As The Core Issue

15:17 Taxes, Transfers, And Generational Inequality

15:46 Canada’s Value Proposition Problem

16:16 Closing Thoughts And Listener Questions

Research:

Sabrina's National Post column: Fix the brain drain by fixing Canada, not with a $500K exit tax | National Post 

Statistics Canada — Recent trends in migration flows from Canada to the United States: https://www150.statcan.gc.ca/n1/pub/36-28-0001/2025007/article/00006-eng.htm

The Hub — “Can anyone solve Canada’s brain drain problem?”: https://thehub.ca/2026/04/03/can-anyone-solve-canadas-brain-drain-problem/

HRD: Canada's talent exodus: What senior HR leaders can't afford to ignore | Human Resources Director 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode, Cara Stern and Mike Moffatt break down the growing generational divide in Canada, and why Millennials and Gen Z are being squeezed from both sides. From skyrocketing housing costs to rising taxes and massive government spending on programs like Old Age Security (OAS), the financial pressure on younger Canadians has never been higher.

We explore how Canada’s aging population is reshaping the economy, why healthcare and retirement spending now dominate government budgets, and how policy decisions around housing have made affordability worse. With fewer workers supporting more retirees, and homeownership increasingly out of reach, this episode uncovers the systemic forces driving a massive wealth transfer from young to old.

Is this sustainable? Why hasn’t policy changed? And what can younger generations actually do about it?

Chapters:

00:00 Introduction: The Hidden Wealth Transfer From Young to Old

00:18 Canada’s Aging Population and the Fiscal Squeeze

01:32 Why Fewer Workers Are Supporting More Retirees

01:54 How OAS Became Canada’s Biggest Federal Expense

03:04 The Truth About Who Paid for Old Age Security

04:14 Young Canadians Are Being Squeezed From Both Sides

04:59 How Housing Policy Made Homes More Expensive

06:29 Did Boomers Intentionally Build This System?

08:23 The Unintended Consequences of Housing Restrictions

09:13 Why Millennials and Gen Z Feel Locked Out

10:20 How Government Spending Shifted Toward Seniors

11:42 Why Younger Generations Struggle to Organize Politically

12:49 Would Lower Home Prices Crash Canada’s Economy?

13:34 Why Cheaper Housing Would Make Canada Wealthier

13:52 Why Young Canadians Need Political Power

15:00 Final Thoughts and Outro

Research/links:

An Oligarchy of Old People

https://www.theatlantic.com/magazine/2026/05/gerontocracy-wealth-power/686585/

Are Boomers Bankrupting the Future?

https://www.youtube.com/watch?v=lbM3_BPDJ5Y

2026 Ontario Budget

https://budget.ontario.ca/2026/pdf/2026-ontario-budget-en.pdf

Page 196

Annual Financial Report of the Government of Canada 2024-25

https://www.canada.ca/content/dam/fin/publications/afr-rfa/2025/afr-rfa-2024-25-eng.pdf

Pg 15

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode, Sabrina Maddeaux and Mike Moffatt break down a shocking Auditor General report that uncovered major enforcement failures inside Canada’s immigration system. With over 153,000 potentially non-compliant students flagged and little follow-up from authorities, this isn’t just a bureaucratic slip-up. It raises serious questions about oversight, accountability, and trust.

Is this really about growing too fast, or did the government fail to enforce its own rules?

We dive into:

• The difference between a capacity problem vs. an enforcement problem
• Why thousands of fraud cases were never investigated
• How approval rates hit 98% in high-risk streams
• The impact on housing affordability and job markets
• What this means for public trust in Canada’s institutions
• And whether cutting immigration targets actually solves anything

This conversation unpacks how policy decisions ripple across the economy, and why fixing the system may require more than just lowering the numbers.

Chapters:

00:00 – Intro: Auditor General Report: The Big Findings

00:45 – Enforcement Failure

01:47 – “Deliberate and Scandalous” Fraud Handling

03:42 – What the Program Was Supposed to Do

04:34 – What It Became: Wage Suppression & Exploitation

05:24 – Housing Crisis Impact

07:45 – Only 40% Confirmed They Leave Canada

09:32 – The Case for Retroactive Enforcement

11:02 – Why Cutting Immigration Isn’t Enough

RESEARCH LINKS:

Auditor General Report on International Student Program (March 2025): https://www.canada.ca/en/auditor-general/our-work/audit-reports/auditor-general-report-2026-international-student-program-reforms.html

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down new data from the CMHC showing rising vacancy rates, record rental supply, and the first meaningful relief for tenants in years. They explore why an influx of new housing and slower population growth are pushing rents down, and what that reveals about how housing markets actually work.

But the conversation goes deeper: from the real impact of immigration on housing demand, to the heated debate over rent control and new policy changes in Manitoba that could reshape the market. Will government intervention protect renters, or make the housing shortage worse? And what happens next as Canada’s population growth slows and hundreds of thousands of new units come online? 

00:40–01:38: Introduction: Rent Control in Manitoba and the Risk to New Housing Supply

01:38–02:58: CMHC Report Findings and the Impact of Supply on Decreased Rents

02:58–03:46: The Link Between Immigration Policy and Housing Scarcity

03:46–04:27: Future Rental Market Forecast: Supply-Demand Mismatch

04:27–05:38: Developers' Investment Decisions Based on Future Immigration Targets

05:38–09:24: The Core Debate: Personal Experience, Stability, and Rent Control's Impact on Supply

09:24–10:26: Detailed Breakdown of Manitoba's Bill 13 Rent Control Expansion

10:26–12:36: Controversy Over Above Guideline Increases (AGI) and Renters' Need for Stability

12:36–15:14: Concerns Over Sustainability, Discouraging Investment, and Who Should Cover Landlord Costs

15:14–16:17: Final Thoughts on Bill 13 and Conversation Conclusion

Research/Links:

NDP plan to expand Manitoba rent control protections

https://www.cbc.ca/news/canada/manitoba/manitoba-residential-tenancies-changes-renters-9.7125916

Big rent hikes — a made-in-Manitoba problem

https://www.policyalternatives.ca/news-research/big-rent-hikes-a-made-in-manitoba-problem/

Rent control killing jobs: landlords

https://www.winnipegfreepress.com/breakingnews/2026/04/07/rent-control-killing-jobs-landlords

Bill 13 - THE RESIDENTIAL TENANCIES AMENDMENT ACT

https://web2.gov.mb.ca/bills/43-3/b013e.php

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

The latest World Happiness Report shows Canadians under 30 have fallen to 71st in the world for life satisfaction, while Canada’s overall ranking has dropped from 5th to 25th. In this episode, Mike Moffatt and Cara Stern break down what’s driving the decline — from housing affordability and falling “option freedom” to expectations, social media, and why the drop is concentrated in countries like Canada, the U.S., the U.K., and Australia.

We also explain how the World Happiness Report actually works, why expectations matter as much as income, and what policy choices may be making young Canadians feel like they’re playing by a different set of rules.

Chapters

00:00 Intro: The U-Shape of Happiness and Midlife Crisis

00:51 Canada's New Phenomenon: Young Adults Are Less Happy

01:48 From 5th to 25th: Canada's Global Happiness Ranking

03:00 How Happiness is Measured: The Gallup Poll Ladder Question

04:43 The Fundamental Equation of Happiness: Expectations vs. Reality

06:11 Canada's Mixed Ratings: Inequality and "Option Freedom"

07:18 Social Media's Impact: Passive vs. Communication Platforms

08:50 The Real Solution: Fixing Middle Class Housing and Policy Choices

Research/links:

World Happiness Report 2026 | The World Happiness Report

https://www.worldhappiness.report/ed/2026/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Why? Because policymakers are focused on greed (incentives) and not enough on fear (competition and risk).

We dive into the core failure of Canadian economic policy, exposing how corporate welfare and easy access to foreign workers kill innovation. Plus, hear the shocking truth about why Canadian retailers won't stock products from homegrown businesses until they succeed in the U.S. first.

We discuss Charles Lamman’s critique and Don Drummond's "confessions" to find out how to fix Canada's risk-aversion crisis and finally push our economy forward.

Chapters:

00:00:00 | Defining Productivity: Real GDP per Hour Worked

00:01:42 | Canada's Long Decline: The Charles Lamman Critique

00:03:15 | Don Drummond’s Confessions: The Failure of Decades of Policies

00:04:14 | Red Tape: The Omission That Stops Building

00:04:51 | The Core Flaw: Too Much Greed, Not Enough Fear

00:06:46 | Corporate Welfare and the Temporary Foreign Worker Trap

00:08:01 | Canada’s National Risk Aversion: Why Retailers Look South

Research:

Labour productivity and related measures, by business sector industry, seasonally adjusted, fourth quarter 2025

Productivity is an urgent problem for Canada. The response? A 15-year study

Confessions of a Serial Productivity Researcher

Canada: Q4 Productivity Slips Under the Weight of Tariffs and Uncertainty

From Bad to Worse: Canada’s Productivity Slowdown is Everyone’s Problem

Eighteen ideas on how to kickstart the Canadian economy

What Is Canada’s Productivity Performance and How Does It Compare to Other Countries?*

Towards An Inclusive Innovative Canada

https://canada2020.ca/wp-content/uploads/2017/02/020317-EN-FULL-FINAL.pdf

https://www.ft.com/content/b7e6996b-f896-4a45-aad3-d1068e88341a?syn-25a6b1a6=1

Out of Nowhere: How Canada Fell Behind Alabama

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Economist Mike Moffatt and columnist Sabrina Maddeaux expose the hidden mechanism of bracket creep, a stealth tax increase impacting millions of Canadians.

Because fixed-tax brackets in provinces like B.C., Manitoba, and Ontario fail to adjust for inflation, middle-class workers are automatically pushed into higher tax tiers, forcing them to pay taxes as though they are wealthy even though their purchasing power remains flat.

We dive into why this particularly clobbers income-dependent younger Canadians (Millennials and Gen Z) and how Ontario's outdated surtax thresholds, which can be triggered by an income of less than $110,000, are punishing effort and driving out-migration. More than just money, this quiet revenue tool lacks democratic accountability, eroding trust in institutions and revealing a tax code desperately in need of a full rethink.

Key Topics: Bracket Creep, Stealth Taxes, Tax Policy, Inflation, Middle Class, Ontario Surtax, Mike Moffatt, Sabrina Maddeaux, Canadian Politics, Economic Inequality, Tax Reform.

Chapters:

00:00 Bracket Creep and its Impact on Purchasing Power

02:32 The Accountability Issue: Why Stealth Tax Increases Matter

04:06 How Bracket Creep Hits Income Earners and the Generational Divide

06:17 The Problem with Ontario's Outdated Surtax Thresholds

08:36 Political Ramifications and the Erosion of Trust in Institutions

10:10 The Need for a Tax Code Rethink

Research/links:

Sabrina's National Post column (source document): Sabrina Maddeaux: Provinces are profiting from your inflationary pain | National Post

Canadian Taxpayers Federation report on Manitoba bracket freeze: Newsroom

Kelowna Capital News on BC bracket freeze revenue projections: Detailing B.C.’s tax changes in Budget 2026, including income tax increases | Kelowna Capital News

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this week’s episode, we answer some of the questions and misconceptions we’ve read online about the new HST rebate on new homes. 

Beyond the rebate, they explore bigger structural challenges like land costs, zoning, and competition in development. The key question remains whether this policy can meaningfully increase supply in a market that is still not functioning normally.

If the goal is to improve affordability, the HST rebate may help, but it is only one part of a much larger housing problem.

Chapters:

00:00 - Gov Announces HST Rebate and Reduced Development Charges

01:22 - Overview of HST Changes

01:52 -  History of Previous Rental and Ownership Rebates

02:58 - Expanding Eligibility Beyond First-Time Buyers

05:32 - Addressing the "Demand Subsidy" Misconception

07:25 - Will Developers Pass Savings to the Buyer?

09:04 - The Impact on Land Values and the Need for Reform

10:05 - Historical Comparison of Government Taxes and Fees

11:26 - How Accurate are the Government Numbers?

12:42 - Projected Impact and the One-Year Program Limit

14:09 - Retroactive Eligibility and Final Thoughts

Research/links:

Doug Ford and Mark Carney to expand HST rebate to all new home buyers

https://www.thestar.com/news/canada/exclusive-ford-and-carney-to-expand-hst-rebate-to-all-new-home-buyers/article_55543d47-86b9-466d-bd17-6155c4d62097.html

Doug Ford and Mark Carney to expand HST rebate to all new home buyers : r/canadahousing

https://www.reddit.com/r/canadahousing/comments/1s3a8cs/doug_ford_and_mark_carney_to_expand_hst_rebate_to/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode, we break down how inflation is actually measured, and why your personal experience can feel completely disconnected from the official numbers. From grocery bills and gas prices to rent and mortgages, not all price increases hit the same way—and some matter a lot more than others.

We also dig into the hidden forces shaping your cost of living: shrinkflation, quality drops (“chocolatey” vs. chocolate), and the limits of how agencies like Statistics Canada track price changes. The result? A single inflation number that masks wildly different realities depending on how you live, spend, and earn.

In other words: there isn’t one inflation rate. There are millions.

Chapters 

00:00 Intro: Why We Underestimate Inflation

00:28 Official Stats vs. Public Perception

01:20 Breaking Down the "Spending Basket"

02:07 Why Every Family Experiences Inflation Differently

03:33 Why Reading & Media Prices are Dropping

04:04 Biggest Price Jumps & Surprises

05:56 The Reality of Shrinkflation at the Grocery Store

06:46 The Kraft Dinner Test: Smaller Sizes, Same Price

07:43 Cutting Ingredients: Chocolate vs. "Chocolaty"

09:03 Housing & Shelter Inflation

11:46 Boomers vs. Gen Z: Who Wins in High Interest Rates?

12:55 Final Thoughts: One Economy, Multiple Realities

Research Links:

Consumer Price Index and Inflation Perceptions in Canada: Can measurement approaches or behavioural factors explain the gap?

https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2021017-eng.htm

Shrinking products, rising prices: Food-specific quantity adjustments in the Consumer Price Index

https://www150.statcan.gc.ca/n1/pub/11-627-m/11-627-m2025016-eng.htm 

Greedy bastards. This just happened in the past few weeks.

https://www.reddit.com/r/loblawsisoutofcontrol/comments/1s116uj/greedy_bastards_this_just_happened_in_the_past/ 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

While most democracies have moved on to Proportional Representation, Canada remains stuck with a model that empowers swing ridings and ignores millions of voters. Paige explains why this monopoly on power prevents real innovation and how a simple change in how we vote could lead to a 20% performance increase across the board.

In this video:

• How our voting system benefits wealthy people
• Which voting system would a villain choose?
• Why Ranked Choice is a trap for multi-party democracies.
• The path forward: Why we need a binding Citizens' Assembly.

Check out Paige Saunders' channel: https://www.youtube.com/@PaigeMTL

Chapters:

00:37 Intro: The hidden force behind Canada’s biggest problems

01:12 What’s broken about Canada’s voting system

01:48 How swing ridings control the country

04:03 Why politicians ignore entire groups of voters

05:26 Does proportional representation hurt suburbs?

06:59 Populism, power, and lack of accountability

08:59 Why this won’t magically fix housing

10:17 Why politicians refuse to change the system

11:11 Why most Canadians don’t even notice the problem

12:58 Is Canada heading down the US/UK path?

15:13 Why electoral reform keeps failing

19:40 The real barrier to change

24:24 The AI test: which system is worst?

29:12 “I was shocked Canada still uses this”

32:28 Is Canada falling behind on democracy?

36:03 Can anything actually force reform?

40:00 What a better system could look like

42:45 Final thoughts: a more Canadian democracy

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Canada’s housing crisis is usually framed around first-time buyers struggling to get into the market. But a growing number of Canadians already made that leap and are now stuck. Couples who bought small condos with the expectation of eventually upgrading are discovering that the path forward has quietly disappeared.

In this episode, Mike Moffatt and Sabrina Maddeaux unpack the rise of the “trapped” second-time homebuyer; households in their late 20s to early 40s who did everything right, built equity, and planned ahead, only to find that larger, family-sized homes are further out of reach than ever. With prices outpacing incomes, policy focused on first-time buyers, and a shortage of suitable homes, the traditional housing ladder no longer works.

What happens when an entire generation can’t move up, even after getting in? And what does it mean for family formation, economic mobility, and the future of Canada’s housing system?

Chapters:

00:00 The "Broken Ladder": Canada’s Second-Time Homebuyer Crisis

00:58 Trapped in the Starter Home:The Condo Squeeze

03:01 The Over-Focus on Shoebox Condos vs. Family Homes

04:13 How the Housing Dream Changed

05:44 Is the “Condo-to-Detached” Model a Ponzi Scheme?

06:39 The “Goldilocks” Scenario for Sustainable Housing Gains

08:16 Polling Data: What Ontarians Actually Care About

10:17 The Case for Extending HST Rebates Beyond First-Time Buyers

11:11 Policy Dorks vs. The Public: Finding Common Ground

14:00 Property Taxes: The "Political Third Rail"

15:45 Should Housing Rules Be Handled by the Province?

16:35 Why Down Payment Support Might Be Hurting More Than Helping

18:43 Renters’ Rights & The Future of Canadian Housing

Research Links:

New OREA survey finds Ontarians support change and transparency in housing costs and policies

Housing in Ontario: Perceptions, Impacts, And Solutions

Unlocking Homeownership: What Canadians Want from Housing Policy

A Blueprint to Restore Homeownership for Young Canadians

Is Ontario Ready to Spend $895M to Jumpstart Homebuilding?

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this segment, Cara Stern and Mike Moffatt dive into the uncomfortable reality of meritocracy in Canada. While Boomers largely believe hard work still pays off, Millennials and Gen Z are seeing a different story. We break down the latest Ipsos polling data and Statistics Canada research that shows social mobility is eroding.

From the "Housing Theory of Everything" to the widening gap between equal opportunity and equal outcomes, we explore why the rules of the game have changed, and what we need to fix to make Canada fair again.

Chapters:

00:00 Introduction

00:46 Defining Meritocracy

1:12 Is Canada a Meritocracy? 

02:41 Measuring Meritocracy Income and Polls

04:23 Generational Divide in Ipsos Poll

05:54 Fairness Equal Opportunity vs Outcomes

07:15 Economists on Eroding Social Mobility

09:07 Increasing Distrust in Institutions & Distrust of Politicians

09:47 Changing Minds Understanding New Realities

11:13 Housing Crisis and Social Mobility

12:45 The Role of Effort combined with Environment

Research/links:

Generational Disconnect In Canada Ipsos Equalities Index 2025 - A 31-country Global Advisor Study

https://www.ipsos.com/sites/default/files/ct/publication/documents/2025-08/generational-disconnect-in-Canada.pdf

Trends in Intergenerational Income Mobility and Income Inequality in Canada

Trends in Intergenerational Income Mobility and Income Inequality in Canada

International Fairness Day 2024: Canada’s commitment to fairness for every generation is more than an empty slogan – but it’s not yet a reality

https://www.if.org.uk/2024/11/18/international-fairness-day-2024-canadas-commitment-to-fairness-for-every-generation-is-more-than-an-empty-slogan-but-its-not-yet-a-reality/

A retreat from opportunity: Is the Canadian dream still alive?

https://thehub.ca/2025/11/10/deepdive-a-retreat-from-opportunity-is-the-canadian-dream-still-alive/

Intergenerational income mobility in Canada: Research highlights from two recent studies

https://www150.statcan.gc.ca/n1/pub/36-28-0001/2023012/article/00001-eng.htm

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Most of the new supply is made up of small condos and apartments, not the family-sized homes people are looking for. Because housing starts are recorded late in the construction process, today’s data often reflects decisions made years ago, not current market conditions.

Even more concerning, pre-construction sales are falling across multiple cities. This raises serious questions about what housing supply will look like in the years ahead.

In this episode, we discuss:

• Why CMHC’s housing starts data can be misleading
• The difference between housing starts and real time market conditions
• Why Canada is building smaller homes
• The composition effect changing housing trends
• What falling pre construction sales signal for the future

Chapters:

00:00:00 Intro: The Housing Data Disconnect

00:01:06 The Problem With CMHC Housing Starts Data

00:04:06 How to Fix Misleading Housing Metrics

00:05:14 The One-Size-Fits-All Data Problem

00:05:49 Generational Shifts in Home Size

00:07:05 Reality vs Data: Smaller Homes and Composition Effects

00:08:14 The Collapse of Pre-Construction Sales

00:09:12 Future Housing Market Outlook 

Research Links

CMHC Housing Report: https://www.cmhc-schl.gc.ca/professionals/housing-markets-data-and-research/market-reports/housing-market/housing-market-outlook 

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode, Cara Stern and Mike Moffatt explore why most seniors choose to stay in their homes and why that decision is often perfectly rational. High moving costs, limited housing options, strong community ties, and government policies that encourage aging in place all make downsizing far less appealing than planners expected.

This mistaken assumption has shaped housing forecasts, contributed to today’s housing shortage, and fueled tensions between generations. Are seniors really the problem, or did policymakers simply plan the housing system around the wrong idea?

And if seniors aren’t moving, what does that mean for families trying to find space in cities where family-sized homes remain scarce?

In this episode, we discuss:

• The Over-Housing Myth: Why the term does more harm than good.
• The Cost of Moving: Taxes, fees, and the "financial loser" trade-off of downsizing.
• Involuntary Over-Housing: What happens when seniors want to move but have nowhere to go.
• Policy Failure: How municipal assumptions about generational turnover are decades out of date.

Chapters:

00:00 Introduction

01:00 The Irony of Planners Assuming Seniors Will Downsize

2:32 Flawed Assumptions About Generational Turnover and Life Expectancy

03:47 The Problematic Term "Overhoused"

07:11 Defining "Involuntarily Overhoused"

08:25 Underhousing Statistics in Toronto

09:04 Zero Sum Mentality Created By Housing Shortage

10:40 Density as a Solution for Seniors and Reducing Resentment

12:33 The Financial Calculation: Why Moving Makes No Sense for Seniors

14:00  Policies Actively Paying Seniors to Stay in Place

16:09 Places where they have Implemented Better Policy 

Research/links:

Right-Sizing Housing and Generational Turnover

https://www.toronto.ca/city-government/planning-development/planning-studies-initiatives/housing-to-2051/

Perspectives on Growing Older in Canada: The 2025 NIA Ageing in Canada Survey – National Institute on Ageing, Toronto Metropolitan University

https://niageing.ca/reports/perspectives-on-growing-older-in-canada-the-2025-nia-ageing-in-canada-survey/

Canada’s Demographic Time Bomb: What Boom, Bust & Echo Got Right - 

https://www.youtube.com/watch?v=j3VT7x1lrBs

City of Toronto – Garden Suites and Laneway Suites

https://www.toronto.ca/city-government/planning-development/planning-studies-initiatives/garden-suites/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of Classonomics from The Missing Middle, hosts Sabrina Maddeaux and Mike Moffatt dig into one of the biggest contradictions in today’s economy. On paper, everything looks great. GDP is growing. Corporate profits are strong. Stock markets are hitting record highs. Yet, for millions of Canadians, life feels harder than ever. Food bank usage has doubled since 2019. Young people can’t afford homes in cities where their parents once bought starter houses. And even full-time workers are struggling to make ends meet.

Sabrina and Mike break down what’s really happening beneath those rosy headlines through the lens of the K-shaped economy, where wealthier Canadians continue to thrive while everyone else falls further behind. The top 20 percent are seeing record financial gains from stocks and investments, while the bottom 40 percent are sinking under housing costs, stagnant wages, and shrinking purchasing power.

They explore how this divide is reshaping not only people’s bank accounts but also their trust in institutions, politics, and the very idea of upward mobility. When the data says the economy is strong but your grocery bill says otherwise, frustration and hopelessness grow, and faith in the system fades fast.

Does Canada’s economy feel strong to you, or are you feeling left behind? Join the discussion in the comments.

Chapters:

00:00 – Intro

01:32 – What is a “K-Shaped Economy”? (The Two-Way Split)

02:54 – Why Younger Canadians Feel Locked Out of Growth

04:10 – The Record-Breaking Income Gap in Canada

05:18 – How the Richest Stay Ahead

06:48 – The Parental Wealth trap

08:24 – Hard Work vs. Inheritance

09:56 – Shocking Stats on Food Bank Users

11:47 – Why Canadians Feel Gaslit by GDP data

15:21 – Restoring the Link Between Work and Reward

RESEARCH LINKS:

Statistics Canada - Distributions of household economic accounts, third quarter 2025

The Hub - Canada's growing wealth gap in 7 charts

Food Banks Canada - HungerCount 2025

Statistics Canada - Income and wealth gaps increased in 3rd quarter of 2025

TD Economics - The Days Of Our Lives (K-shaped economy analysis)

Parliamentary Budget Officer - Estimating the top tail of the family wealth distribution in Canada

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of Classonomics, we tackle the viral argument that the middle class isn’t struggling — it’s being mismeasured. On paper, incomes are up and unemployment is low. So why does it feel harder than ever to afford a home, raise kids, or even stand still? We break down the hidden costs of economic participation, from housing and childcare to smartphones and “technological coercion”. We also examine the rise of the two-income trap that quietly reset the price of middle-class life. Are millennials truly worse off than their parents? Is inflation data masking reality? And was the 80s and 90s middle class partly a sitcom illusion? 

If you’ve ever felt “middle class” in theory but squeezed in practice, this episode explains why.

Chapters:

0:00 – Introduction: Welcome to Classonomics

0:39 –  Why 90s “Struggling” TV Families Look Wealthy Today

02:03 – Is $130k the New Poverty Line?

04:52 – Technological Coercion: From Luxury to Necessity

09:08 – Why Inflation Stats are Misleading: Better vs. Cheaper

11:03 – The Two-Income Trap: From Option to Obligation

14:54 – The Nostalgia Gap: Are We Remembering the 80s Correctly?

17:20 – The Reality of Generational Downward Mobility

Research links:

Part 1: My Life Is a Lie

How a Broken Benchmark Quietly Broke America

https://www.yesigiveafig.com/p/part-1-my-life-is-a-lie

Cory Doctorow 

https://en.wikipedia.org/wiki/Enshittification

https://en.wikipedia.org/wiki/Cory_Doctorow

Hedonic adjustments

https://www.npr.org/2022/11/10/1135849519/hedonic-adjustment-how-to-measure-pleasure

Credits:

Mike Moffatt 

https://twitter.com/MikePMoffatt

https://bsky.app/profile/mikepmoffatt.bsky.social

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

From the 1980s mall culture and bowling alleys to the modern era of "convenience-first" coffee shops and endless doomscrolling, we explore why 60% of Canadians feel disconnected from their communities. We also break down the surprising 2025 StatCan data showing that young people (15–24) are significantly lonelier than seniors.

In this episode, we discuss:

The Zoning Crisis: Why it’s literally illegal to build a walkable pub or café in most North American suburbs.

The Death of the Comfy Chair: How rising land costs forced businesses to prioritize drive-thrus over community "hangouts."

Weak Social Ties: Why interacting with people outside your "bubble" is essential for democracy, your mental health, and your career.

Practical Advice: Cara shares her (slightly terrifying) tips for meeting neighbours, and Mike discusses how rec sports saved his social life. 

Chapters:
00:00 The Connectivity Paradox: Why we’re lonelier than ever
01:40 Youth are lonelier than seniors
03:10 The "Doom Scrolling" effect on community connection
04:10 What is a "Third Place"? (And why you need one)
05:20 The power of "Weak Social Ties"
07:34 How Zoning & NIMBYism killed our local hangouts
12:18 Can Digital Communities Replace Physical Ones?
14:58 High Land Costs Make Everything Worse
17:08 Practical Advice: How to Build Community Today
20:41 The Senior Discount Problem: Why cities are ignoring youth isolation
22:10 How to Push Past Rejection & Find Your People

Research/links:

Six in Ten Canadians Surveyed Have Little or No Sense of Community, New YMCA Research Reveals

https://www.ymcagta.org/news/Six-in-Ten-Canadians-Surveyed-Have-Little-or-No-Sense-of-Community

Church Closures and the Loss of Community Social Capital

https://carleton.ca/panl/wp-content/uploads/Church-Closures-and-the-Loss-of-Community-Social-Capital-By-Don-McRae-March-2023.pdf

Where Have All the Great, Good Places Gone?: The Decline of the “Third Place”

https://www.mironline.ca/where-have-all-the-great-good-places-gone-the-decline-of-the-third-place/

Third places, true citizen spaces

https://courier.unesco.org/en/articles/third-places-true-citizen-spaces

Brands should provide “third places” to help Canadians feel connected: 

https://strategyonline.ca/2024/11/11/citizen-relations-report-third-places/

The Hidden Health Crisis: Understanding Loneliness in Canada
https://blog.theralist.ca/the-hidden-health-crisis-understanding-loneliness-in-canada/

Why your ‘weak-tie’ friendships may mean more than you think
https://www.bbc.com/worklife/article/20200701-why-your-weak-tie-friendships-may-mean-more-than-you-think

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Canada has added nearly 200,000 jobs and unemployment sits around 6.5%. On paper, that’s a “normal” economy. But talk to young workers, or anyone trying to switch jobs, and you’ll hear a very different story: hundreds of applications, zero callbacks, and months of silence.

In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down the hidden story behind the headlines. They explain why low unemployment can mask a frozen job market — one with fewer layoffs, fewer hires, and far fewer opportunities for people trying to get in.

If you’re a recent grad, stuck in your career, or wondering why the economy feels worse than the data suggests, this episode is for you.

Tell us in the comments: How long has your job search taken? Has it been harder than expected?

Chapters:

00:00 – Why Finding a Job in Canada Feels Impossible Right Now

01:57 – Beyond Unemployment: The Hidden Labour Market Indicators

05:28 – Why Employers Have the Upper Hand Right Now

06:12 – Global Uncertainty, Trade Tensions & Hiring Freezes

07:26 – The "Low-Hire, Low-Fire" Equilibrium Explained

10:21 – How Over-Regulation Stifles Economic Growth

13:06 – The Systemic Impact of Locking Out a Generation

14:20 – The Housing Theory of Everything

Research:

Consulting the Magic 8 Ball of Canada’s Job Market

The Job Market Is Frozen:Unemployment is low, but workers aren’t quitting and businesses aren’t hiring. What’s going on?

Canada’s shifting labour market: Recalibrating ‘breakeven employment’

Glassdoor Worklife Trends 2025

Employment by industry, monthly, seasonally adjusted and unadjusted, and trend-cycle, last 5 months (x 1,000) 1, 2, 3, 4

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of DemograFix, Cara Stern and Reece Martin, of @RMTrasit, tackle the reality of navigating Canadian cities with kids. While many parents are told that a private vehicle is the only safe or convenient way to get around, Cara and Reece explore why our transit systems often fail families – and how we can fix them.

From the "elevator roulette" at subway stations to the hidden costs of car ownership, we’re breaking down the barriers to urban parenting.

Have you ever been "trapped" at a subway station with a stroller or in a wheelchair? Let us know in the comments.

Chapters:

0:00 Introduction

00:44  The "Car Trap": Why parents feel forced to drive

01:38  Canadian Transit vs. the US: How do we actually rank?

03:22 The Stroller Struggle: Accessibility "on paper" vs. reality

08:47 A Tale of Two Cities: Toronto, Montreal, and the elevator gap

13:11 Reece on the GoTrain accessibility car

15:50 The Hidden Cost: Is owning a car costing you a second child?

19:45 Policy solutions for family friendly transit

25:02 Why free transit for kids is a game changer

28:15 The problem with busses

29:48 Teens and Transit: How free fares encourages a healthier lifestyle

33:15  Making cities livable for the next generation

Research/links:

Studies on impact on free fares on active transportation for teens

https://www.getonthebus.ca/resources

Transit Use by Children and Adolescents: An Overlooked Source of and Opportunity for Physical Activity? - PMC

https://pmc.ncbi.nlm.nih.gov/articles/PMC5502534/

Engaging students to increase public transit ridership A guide for using city–school partnership to inspire youth to choose sustainable transportation.

https://greenmunicipalfund.ca/sites/default/files/documents/resources/guide/guidebook-engaging-students-to-increase-public-transit-ridership-gmf.pdf

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

In this episode of The Missing Middle – Classonomics, we unpack why a generation priced out of housing is turning to meme stocks, crypto, and online sports betting instead of traditional saving. Mike and Sabrina explore how the “gamification” of investing on your phone blurs the line between investing and gambling, why young men dominate high-risk trading, and what research tells us about the link between gambling, crypto, and financial stress. 

The conversation introduces the idea of “financial nihilism” — when homeownership feels impossible, big bets can start to seem rational. They also debate solutions, from tighter gambling advertising rules to better financial education and, most importantly, fixing housing affordability. Is this risky behavior a cultural problem, a policy failure, or both? Watch to find out — and tell us in the comments if you’ve ever placed a big bet with your money.

Chapters:

00:00 Introduction

01:10 The high-risk landscape

02:15 Personal experience with risk

03:00 Demographics of gamblers and investors

04:35 Gambling vs investing

05:30 The Risks of sports gambling & prediction markets

06:52 The difference between zero-sum and negative-sum behaviour

08:53 The link between gambling & crypto trading

11:01 How the culture of gambling is hurting young men

12:22 How the housing crisis leads to financial nihilism

14:22 How big risks start to become rational choices

15:38 The role of social media 

16:24 YOLO spending and the gendered aspect of risky bets

17:50 Mike drops a hockey metaphor

19:23 Solutions: Regulation, education and home ownership

Research: 

Canada Is Finally Regulating Stablecoins – Here’s Why It Matters

Cryptocurrency trading, gambling and problem gambling

"Giving Up": The Impact of Decreasing Housing Affordability on Consumption, Work Effort, and Investment

Newsletter Sabrina mentions:

1 big thing: Gen Z plays the economy like a casino

Are We Ignoring a Generation of Struggling Young Men?

All Bets Are On: The Rise of Prediction Markets

The Doom Spenders

polymarket.com Website Traffic Demographics

Gambling Statistics Canada 2026 – Unveiling Canada’s Gambling Landscape

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Are we heading toward a future of mass unemployment, or is AI just the latest "calculator" to change how we work? Cara Stern and Mike Moffatt dive deep into the data behind AI's impact on demographics and the workforce.

While Mike leans into historical optimism, Cara brings the receipts: a recent Stanford study showing a 13% drop in employment for young workers in AI-exposed fields since the release of ChatGPT. We explore which jobs are "AI-proof," why Gen X seems to be winning (again), and what policy changes could help young people get a foot in the door.

Chapters:

00:00 Introduction

00:29 Why Mike is unconcerned about AI taking his job

01:30 Why Cara is worried about AI

02:21 Young works AI exposed jobs see 13% drop

03:52 Examining AI exposed occupations

04:30 How AI impacts different cohorts of workers

06:12 Understanding the impact of AI on wages

06:54  Being well rounded is the best protection

08:16 Trades, healthcare and education will continue to be in demand

09:20 Mike shares a story from the olden times

10:00 Mike’s take on going into the trades

11:20 Mike on wages

12:18 Focus on developing skills

13:17 The role of policymakers and solutions

Research/links:

Canaries in the Coal Mine? Six Facts about the Recent Employment Effects of Artificial Intelligence

Youth in Canada will need help gaining experience in the AI era

No to being young again; The struggles of Canadian youth employment - CIBC Capital Markets

Canada must pioneer AI adoption that creates job opportunities: Ryan Khurana in Canadian Affairs | Macdonald-Laurier Institute

Canaries in the Coal Mine? Six Facts about the Recent Employment Effects of Artificial Intelligence

Youth in Canada will need help gaining experience in the AI era

No to being young again; The struggles of Canadian youth employment - CIBC Capital Markets

Canada must pioneer AI adoption that creates job opportunities: Ryan Khurana in Canadian Affairs | Macdonald-Laurier Institute

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

They compare buying a detached home in 2004 for $168,000 with today’s reality, where condos fail as a first step and buyers are trapped with no clear path forward. The conversation explores how this breakdown affects family formation, careers, ambition, and Canada’s economic future.=

If homeownership feels impossible, this episode explains why and why it matters.

Do you still believe the starter home works, or has the housing ladder completely collapsed where you live?

Chapters:

00:00 — What “Buying Your First Home” Used to Look Like

00:40 — Mike’s First House: A Brand-New Detached Home… as a “Starter”

01:47 — Why That Dream Is Gone for Today’s Buyers

02:29 — What “Starter Home” Means Now vs. Then

05:23 — “Aging Out” of the Starter Home

07:03 — Trapped in a Condo

09:58 — The “Second-Time Buyer Problem” Explained

11:09 — Housing, Birth Rates, and Canada’s Demographic Crisis

13:37 — Careers Limited by Real Estate, Not Talent

18:45 — Why Politicians Are Getting This Wrong

Research links:

Teranet Market Insights Q1 2025

National Bank Housing Affordability Monitor

CMHC Housing Market Outlook 2025

CMHC Housing Supply Report 2025

Royal LePage House Price Survey and Market Forecast

Statistics Canada - Homeownership and Mortgage Debt of Tax Filers

CIBC Economics - Housing Affordability Reports

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

What if we told you a book published in 1996 predicted almost all of it?

In this episode of The Missing Middle, Cara Stern and Mike Moffatt revisit the Canadian classic Boom, Bust & Echo to explore how demographics, especially the aging of the baby boomers, reshaped Canada’s economy, housing market, job prospects, and public policy.

We break down:

• Why youth unemployment was a policy choice

• How demographics quietly drive housing prices

• What governments got right — and very wrong

• Why immigration policy, real estate, and healthcare are deeply connected

• And how Canada ended up with a generational economic imbalance

This isn’t just history. It explains why life is harder for young Canadians today and what choices led us here.

If you care about housing affordability, jobs, immigration, public policy, and Canada’s economic future, this episode is for you.

Chapters:

00:00 Introduction

00:49 Why Boom, Bust, and Echo (BBE) still matters

03:00 What the book got right and wrong

04:25 Prediction about the rise of home health care

06: 06 Policy dilemma: high demand for PSWs & balancing budgets

08:12 Immigration policy advice from Boom, Bust and Echo

09:03 Governments didn’t take the advice 

10:55 BBE real estate prediction

11:45 Housing market predictions: what went wrong

15:10 Boomers, Millennials & real estate

16:40 BBE prediction on future changes to taxation policy

17:13 The politics of moving taxation from income to capital

19:50 Real estate prediction for aging boomers

20:34 Naturally occurring retirement communities

23:40 Following where people actually live

24:47 Demographics are facts that help us understand the future

Research/links:

Boom, Bust & Echo: How to Profit from the Coming Demographic Shift

https://www.amazon.ca/Boom-bust-echo-profit-demographic/dp/0921912978

David Foot on Aging Society & Youth

https://www.youtube.com/watch?v=Gy7y2w9i_aA

What David Foot didn't tell us

https://www.theglobeandmail.com/life/what-david-foot-didnt-tell-us/article784233/

Finding Naturally Occurring Retirement Communities - Agenda segment

https://www.youtube.com/watch?v=Ynlwpsye2c0

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

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

Funded by the Neptis Foundation https://neptis.org/

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?

👇 Share your thoughts in the comments:
 Are subscriptions worth the convenience, or are we losing something more important?

📩 Questions or feedback? Email us at missingmiddlepodcast@gmail.com

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

Funded by the Neptis Foundation https://neptis.org/

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

Funded by the Neptis Foundation https://neptis.org/

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

Funded by the Neptis Foundation https://neptis.org/

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

Funded by the Neptis Foundation https://neptis.org/

The conversation dives into walkable neighbourhoods and small businesses, why governments struggle to act on housing affordability, the taboo around discussing immigration and housing together, transit as a pressure valve for urban sprawl, and why seniors are stuck in family-sized homes. Plus, we explain what’s changing on the show, including two new weekly episodes, DemograFix and Classonomics, and what it means for listeners going forward.

Chapters

00:00 Ask Me Anything 2025 and look ahead

00:45 Meet our editor/technical producer Sean Foreman

03:01 Introducing the new podcast DemograFix

03:52 Introducing Classonomics

04:16 You don’t need to do anything, we promise 🙂

05:01 Meredith’s take on the future of Missing Middle podcasts

07:29 Question from Matthieu Gagnon about walkability

09:56 Rahim Ismail’s Question about the government being out of touch

12:34 Examining the intentionality of the government's lack of response

15:36 Chosing one stakeholder over another

16:46  Vanessa MacDonald’s question about talking about immigration policy

20:49 Daniel D'Angela’s question about good transit

22:57 Seniors downsizing and banning all foreign ownership

Research/links:

Can Tax Reform Help Young People Afford Homes?

https://youtu.be/rW9QZ91lF9k?si=lep3WbEYfmZATaUQ

2025 Provincial HOMES Report Card

https://www.missingmiddleinitiative.ca/p/2025-provincial-homes-report-card

The Positive Utility of the Commute: Modeling Ideal Commute Time and Relative Desired Commute Amount

https://www.researchgate.net/publication/263313349_The_Positive_Utility_of_the_Commute_Modeling_Ideal_Commute_Time_and_Relative_Desired_Commute_Amount

Measuring the Local Economic Impacts of Replacing On-Street Parking With Bike Lanes

https://www.tandfonline.com/doi/full/10.1080/01944363.2019.1638816

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

The conversation dives into why modern health innovation depends on large-scale data, how Canada’s patchwork of federal and provincial rules creates costly barriers, and what lessons we could learn from countries like Japan and Singapore instead.

Chapters:

00:00 Introduction

00:44 The Brussels Effect explained

03:17 Outdated health-data and privacy rules

04:13 Accessing lifescience data

06:00 Safety vs innovation

07:40 Europe lacks tech innovation

08:55 We’re already adopting EU rules

09:28 Asia leads the way in healthtech data regulation

Research:

Health Innovation Doesn’t Have to Be This Hard

https://www.missingmiddleinitiative.ca/p/health-innovation-doesnt-have-to?utm_campaign=post&utm_medium=web

The Draghi report on EU competitiveness

https://commission.europa.eu/topics/competitiveness/draghi-report_en

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

Mike also explores housing policies that help, harm, or have little impact, from inclusionary zoning to development charges. The episode highlights how some reforms succeed, others fail, and why provinces can learn from each other. Tune in to see which policies actually work and what it will take to improve housing across Canada.

Chapters:

00:00 Introduction to the Provincial HOMES Report Card

00:45 The best and worst provinces at housing performance

02:20 36 assessment points

03:39 The report methodology

05:17 Avoiding harmful and irrelevant policies

06:24 Provinces that have irrelevant policies perform worse

09:40 Inclusionary zoning

12:30 Examining the number of adult children living at home

13:56 Ways in which Ontario sucks at housing

15:20 Political will(not to build housing in Ontario)

17:58 The levels of government can learn from each other

19:03 We were hoping BC would have better results

19:28 Atlantic Canada doesn’t get in it’s own way

21:51 How can the provinces improve?

Research/links:

2025 Provincial HOMES Report Card

https://open.substack.com/pub/missingmiddleinitiative/p/2025-provincial-homes-report-card?utm_campaign=post-expanded-share&utm_medium=post%20viewer

Modeling Inclusionary Zoning’s Impact on Housing Production in Los Angeles: Tradeoffs and Policy Implications

Inclusionary-Zoning-Paper-April-2024-Final.pdf

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

The discussion explores key issues affecting younger generations in Canada, including housing affordability, childcare costs, wage stagnation, and intergenerational inequality. Sabrina and Mike talk about why young men are struggling in today’s economy, what this means for Canada’s workforce, and how policy changes could help.

Chapters:

00:00 Introduction

00:42 New report shows young men earn less than senior men

02:00 Senior men incomes have doubled since 1970s

02:24 Young men’s incomes are down since the 1970s

03:21 Where is the extra senior income coming from?

05:53 The role of government transfers and entitlements

07:30 Breaking down younger men’s incomes

09:44 Housing have increased far faster than inflation since 1977

11:11 Why have wages gone down for young men?

13:31 social taboos around talking about young men

17:09 Concluding thoughts

Research Links:

What Happened to the Young Middle-Class Man?

https://substack.com/home/post/p-181132084?source=queue

How Do Young Men See the World? We Asked Them.

https://www.esquire.com/news-politics/a63613007/young-men-america-2025/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/

The conversation also addresses misconceptions about fertility, critiques the “all supply is good supply” argument, and examines the structural barriers preventing cities from building enough three- and four-bedroom homes. Mike and Cara explore how unsuitable housing impacts families, newcomers, and children, how municipal regulations add to the shortage, and why resolving this issue requires major zoning, planning, and building-code reforms—rather than simply telling young people to “lower their standards.”

Chapters:

00:00 Introduction 

00:40 Examining a U of T study on fertility and housing affordability

01:40 51% of the decline in fertility rate is attributed to lack of housing

03:52 Unpacking housing affordability and Canada’s fertility rate

05:02 Cara highlights a viewer comment about the cause of fertility decline

08:50 Society needs younger generations to grow not shrink

09:20 Mike outlines the human right to housing

12:45 Who is more likely to be living in unsuitable housing?

14:18 Children are more likely to be underhoused

16:12 All supply is good supply - but is it?

18:50 Consequences of not providing enough housing in cities

22:50 Or/and we could build our cities up

Research Links:

Build, Baby, Build: How Housing Shapes Fertility

BKC_JMP.pdf

She's (Not) Having a Baby | Cardus

Families Are Outgrowing Our Cities, and the Law Says They Shouldn’t Have To

National Occupancy Standard | CMHC

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/