The Missing Middle Podcast
Welcome to the Missing Middle, a podcast about why the middle class in Canada is disappearing. We hope to help you understand why life is becoming unaffordable for so many in this country, and what can be done to reverse course.
Did Ontario Turn a Blind Eye to Career College Fraud? | Alex Usher
How did hundreds of millions of dollars in Ontario student aid end up at the centre of a major funding scandal, and why did it take so long for the government to act?
In this episode of DemograFix, Cara Stern sits down with Alex Usher, president of Higher Education Strategy Associates and author of the annual State of Post-Secondary Education in Canada report, to investigate the OSAP funding scandal and the Ontario Provincial Police’s criminal probe into alleged fraud at private career colleges.
They unpack how Ontario’s student aid system went wrong, what the...
Why Nobody Can Afford to Have Fun Anymore
Why is it getting so hard to afford a night out? From $200 dinners and sky-high concert tickets to the disappearance of cheap bowling alleys and dinner parties, having fun is becoming a luxury. In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down how soaring housing costs, stagnant wage growth and rising entertainment prices are changing the way we socialize. As affordable third spaces disappear and young Canadians spend more time alone, are we facing a loneliness crisis fuelled by the cost of living? And what happens when we can no longer afford the everyday experiences that...
Housing Promises: What Works, What Doesn’t, and What’s Missing
With election day approaching across Ontario, are mayoral candidates offering real solutions to the housing crisis, or just slogans?
Cara Stern and Mike Moffatt examine housing platforms from candidates in nine Ontario cities to see which proposals could actually make homes more affordable for middle-class families, renters, and first-time homebuyers.
They break down the policies that could make a difference, the promises that need more scrutiny, and the municipal decisions that are shaping the future of housing in Ontario.
In this episode:
What's missing from candidates' housing plans? Why concrete...Stealing From the Future: The High Cost of Senior Benefits
In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down why political promises to give "more money to seniors" actually enrich Canada's wealthiest demographic, the myth that retirees "paid into" Old Age Security, how brutal child benefit clawbacks contrast with generous senior write-offs, and how taking money from young workers is quietly hurting the economy.
Chapters:
00:00:00 The Problem with “More Money for Seniors”
00:02:53 How OAS Works & Why Income Thresholds Matter
00:04:36 The Conservative Payout Plan
00:05:41 Seniors vs. Struggling Young Families
00:08:32 Generational Theft & Economic Drag<...
The "Empty Land" Myth: Why Canada Can’t Just Sprout New Cities
In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down whether creating brand-new cities can actually solve Canada’s housing affordability crisis, how our metropolitan numbers compare globally, the failed history of planned-city experiments like Ontario's Townsend and Australia's Monarto, and why central planning can't replace the organic economic realities that make cities thrive.
Chapters:
00:00 Why Doesn’t Canada Build New Cities?
01:23 Canada Is Already Creating New Cities
03:10 Why Smaller Canadian Cities Are Growing Faster
04:37 Does Canada Actually Need More Cities?
09...
What Happens When an Outsider Runs for Party Leader? | Eric Lombardi
We often talk about how politics caters to seniors at the expense of young people, and that part of the cure is to get more young voices into politics.
But what actually happens when a young outsider puts their name on the ballot for a major party leadership position?
In this episode of Answer Period, former Ontario Liberal leadership candidate Eric Lombardi joins us for a candid conversation about his outsider campaign, navigating the tension between sound-bite politics and deep policy, and the double-edged sword of social media in modern campaigns. We'll dive into the...
Is the Housing Crisis Radicalizing Young Voters?
Housing affordability is increasingly shaping how young people think about politics, political parties, and the future of democracy.
On this episode of DemograFix, Mike Moffatt and Cara Stern explore what research tells us about the relationship between the housing crisis and young people's political views across North America, Europe, Australia, and New Zealand.
Does declining housing affordability deepen the divide between younger and older voters? Is it pushing young people away from centrist parties, or toward the left or right? And what happens when an entire generation starts to lose faith in its ability to...
Bank of Canada’s Carolyn Rogers on Productivity, Trade-offs, and Housing
Join us for an exclusive post-speech interview with Bank of Canada Senior Deputy Governor Carolyn Rogers following her address to the Greater Victoria Chamber of Commerce and CFA Society Victoria.
In this conversation, Rogers sits down to unpack her frank speech on Canada's housing affordability dilemma. We discuss why interest rates are too blunt of a tool to fix housing, how Canada's heavy reliance on residential real estate impacts our national productivity, and what regulatory stress tests actually achieved versus what they couldn't fix. Plus, we dive into the trade-offs of measuring shelter costs...
Paying In, Locked Out: Why EI Fails Young People
In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt examine how Canada’s outdated Employment Insurance model leaves young professionals and gig workers behind during record spikes in youth unemployment. They explore why current rules penalize urban renters, how maximum benefits fall short of basic living costs, and what practical policy reforms could fix the system for the modern workforce.
Chapters:
00:00 Canada’s EI System Wasn’t Built for Today’s Workers
01:02 How Employment Insurance Became Outdated
02:16 How EI Eligibility Actually Works
03:10 Why Young Workers Are Fall...
Can Egg Freezing Really Delay Your Biological Clock?
As life milestones like finishing school, buying a house, and getting married get pushed further into our 30s, biology remains the one deadline that refuses to bend. In this episode of DemograFix, hosts Mike Moffatt and Cara Stern take a deep dive into the business, economics, and realities of egg freezing, sparked by U.S. Representative Alexandria Ocasio-Cortez (AOC) publicly sharing her own fertility journey.
Mike and Cara discuss how skyrocketing housing prices, student debt, and extended education force modern life choices to clash directly with biological clocks. They break down what real-world data shows about live...
Dragon’s Den Legend Reacts To Today’s Squeezed Economy: Interview with David Chilton
In this episode of Classonomics, host Mike Moffatt sits down with financial advice guru David Chilton, author of the Canadian classic The Wealthy Barber and former co-host of Dragon's Den. Decades after his original bestseller offered foundational advice to young Canadians, Chilton reflects on how drastically the economic landscape has shifted, and why writing his updated edition proved far more challenging.
The conversation dives deep into the realities facing young adults today, from ubiquitous credit and skyrocketing housing costs to the inflation rates hit hardest by major life stages. Chilton and Moffatt dissect the...
Why Everyone Is Fighting Over Bike Lanes
How did bike lanes become the ultimate political wedge issue?
In this episode of DemograFix, Cara Stern sits down with Tom Babin, urban cycling advocate and creator of the YouTube channel Shifter, to break down the growing "bike-lash" across Canada and the U.S. From provincial overrides in Ontario and Alberta to the culture wars dividing suburban drivers and downtown commuters, we explore why bike infrastructure generates such intense debate.
We dive into the math behind induced demand, the reality of winter cycling, why "road diets" actually work, and how cities can design better, safer...
Canada Joins the EU?
This week, Prime Minister Mark Carney will address the European Parliament in an effort to "create greater certainty, security, and prosperity for our peoples." Meanwhile, the Wall Street Journal reports that Canada is seeking to become an "Associate Member" of the European Union. In our Answer Period livestream, Sabrina Maddeaux and Mike Moffatt will be talking about the benefits and drawbacks of a closer association with the European Union, what an associate membership could look like, and take viewer questions.
Hosted by Mike Moffatt & Cara Stern & ...
Canada Could Build Better Homes AND Make Them Cheaper
Why is Canadian housing so expensive and why are we getting so little for our money? In this episode of the Missing Middle Podcast, Mike Moffatt talks with Adam Mongrain of More and Better Housing about how Canada can build more affordable, better-quality homes while also tackling climate change and housing affordability.
They dig into why Canada struggles to build the “missing middle” housing that exists in cities around the world, and how zoning rules, building codes, construction costs and a lack of standardization are making it harder and more expensive to build the home...
Should Parents Get the Right to Vote for Their Kids?
Are Canadian elections actually fair if 7 million citizens are completely excluded from the process?
In this episode of The Missing Middle, Cara Stern and Mike Moffatt unpack the hidden flaw in Canada’s electoral system: the complete disenfranchisement of children and young people. As Canada’s population ages, politicians are incentivized to cater to older voters while ignoring the long-term economic interests of younger generations.
We explore a radical yet historical solution: proxy voting.
What if parents could cast ballots on behalf of their children? Could giving every citizen a voice from birth fix o...
We Want 1.5 Million New Homes. But Can We Power Them?
Ontario has pledged to build 1.5 million new homes by 2031, but can our power grid actually handle the demand? In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down the $100B–$120B "last mile" infrastructure crisis quietly halting major housing projects across the province, including thousands of stalled homes in Brooklin, Whitby, and Ajax.
From the historical legacy of Sir Adam Beck’s publicly owned hydro model to modern electrification demands like EVs and heat pumps, we discuss why developers are being pushed to fund local grid expansions and what policy fixes, such as tax-exempt utility bond...
Trump, Tariffs and Canada’s Next Move
Canada’s trade relationship with the United States is facing major challenges. In this replay of a live episode recorded on Friday August 28, Mike Moffatt and Cara Stern break down Canada’s trade war with the U.S., the impact of tariffs, and what it all means for the Canadian economy.
They explore how tariffs and trade tensions could affect Canadian jobs, businesses, inflation, housing, taxation, financial markets, and economic stability while answering questions directly from the live audience.
Whether you’re a policymaker, investor, business owner, or simply trying to understand what’s happening to Canad...
Why Developers Only Seem to Build McMansions
Ever wonder why it's nearly impossible to find a brand-new, modest starter home? In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down the real-world housing economics driving the extinction of small detached homes across Canada and why developers are practically forced to build McMansions instead.
From flat municipal fees to setback regulations and astronomical land costs, we run through the numbers we explain why smaller homes no longer make financial sense for builders, and what policy changes could actually fix it.
The disappearance of homes under 1,500 square feetServiced land pricing and lot width...Why Fertility Treatment Usage Is Exploding in Canada
Fertility treatment is becoming increasingly common in Canada. But why?
On this episode of DemograFix, Cara Stern and Mike Moffatt dig into the dramatic rise of IVF and fertility treatment in Canada, and what it tells us about how Canadians are building families.
IVF births in Ontario have nearly doubled as a share of all live births since 2014, while the average age of patients starting IVF has climbed past 35. As Canadians spend longer in school, establish careers later, face higher housing and living costs, and delay parenthood, more people are turning to fertility treatment to...
Are Young and Old People Voting for Different Futures?
Are Canada’s politics becoming less about left versus right and more about young versus old?
In this episode of Classonomics, Mike Moffatt and Sabrina Maddeaux explore the growing generational divide in Canadian politics and what it means for the economy, housing, and the future of democracy. They examine why older voters may prioritize inflation, pensions, and asset prices, while younger Canadians increasingly feel shut out of homeownership, economic growth, and traditional institutions.
Topics covered:
The growing age divide in Canadian politicsWhy seniors and younger voters have different economic priorities“Pocketbook” versus “sociotropic” votingEconomic growth and...The Secret to Building Family-Friendly Housing in Existing Neighbourhoods
Canada needs more housing, but building in existing neighbourhoods often faces strong local opposition. Could gentle density be a solution?
In this episode of DemograFix, Cara Stern and Mike Moffatt discuss how infill housing, form-based zoning, and streamlined regulations could help Canada build more family-friendly homes while balancing concerns about neighbourhood character, infrastructure, parking, and density. They also examine multiplex debates in Toronto and Calgary, and whether zoning reform and condo rules are limiting new homeownership opportunities.
Topics covered:
What is gentle density?Why Canada needs more family-friendly housingThe fight over multiplexes and infill...Why Are Young People Paying for Wealthy Seniors?
Canada’s growing debt isn’t just a problem for governments; it could shape the future for younger generations.
Sabrina Maddeaux and Mike Moffatt explore how government debt, Old Age Security (OAS), and spending choices shift wealth between generations. They discuss whether wealthy seniors should receive full OAS benefits and how younger Canadians may be paying more through higher taxes, housing costs, and rising debt.
While not all debt is harmful, borrowing for long-term investments like infrastructure, transit, housing, and energy can be beneficial, borrowing to sustain costly programs is more controversial and raises questions abou...
Is Outdated Parental Leave to Blame for Canada's Fertility Crisis?
Canada’s parental leave system was built for a workforce that no longer exists. As work and family life have changed, the policy hasn’t, leaving more parents without the support they need.
In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt examine why Canada's parental leave system is increasingly out of step with today's workforce. They discuss how rising housing costs, stagnant income replacement, contract work, and outdated Employment Insurance rules are making it harder for Canadians to start or grow their families.
The conversation explores why many parents, especially freelancers, self-employed workers, and...
Why Suburbs Will Stay in High Demand for Decades
Many people assume Canada’s suburbs are destined to decline as Baby Boomers age and younger generations embrace urban living. But does the data actually support that?
In this episode of DemograFix, Cara Stern and Mike Moffatt examine new Statistics Canada research on how immigrants’ housing choices evolve over time. While most newcomers begin as renters in urban centres, the data shows many transition into homeownership, including family-sized homes in the suburbs, as they build their lives in Canada.
They also test this prediction against several scenarios that could prove it wrong, including lower immigration, more...
The Surprising Way Greenbelts Can Increase Urban Sprawl
Canada has spent decades trying to curb urban sprawl through policies like greenbelts, urban growth boundaries, and higher development charges, but what if those policies are having the opposite effect?
In this episode, Mike Moffatt and Sabrina Maddeaux examine the rise of "leapfrog development," where families priced out of cities move beyond growth boundaries into neighbouring communities, leading to longer commutes, higher infrastructure costs, and even more sprawl. They explore real-world examples from Ottawa, London, and the Greater Toronto Area, discuss the research behind these trends, and ask whether it's time to rethink how Canadian cities grow.<...
Three Kids Are the New Status Symbol
Has having three kids become a status symbol in Canada?
In this episode of DemograFix, Cara Stern and Mike Moffatt explore why having three children has become a luxury for many middle-class Canadian families. From the cost of family-sized housing to childcare, career sacrifices, transportation, and the changing expectations placed on parents, they break down why so many families stop at two, even when they wanted more.
The conversation also looks at Canadian and international research on fertility, Quebec's childcare experiment, why family-sized homes have almost disappeared from our cities, and what governments would actually...
Is Chasing Too Many New Homes Canada’s Next Big Failure?
Is 500,000 new homes a year really what Canada needs to solve the housing crisis?
In this episode of the Missing Middle’s Classonomics Podcast, Mike Moffatt and Sabrina Maddeaux examine whether Canada's headline housing targets still make sense now that immigration has slowed and population growth has changed. They discuss why housing starts can be a misleading metric, why the type of housing being built matters just as much as the number of homes, and what governments should actually measure if the goal is restoring affordability.
Topics covered:
Why the 500,000-home target may no lo...Is the Temporary Foreign Worker Program Hurting Young People?
When a business faces a labour shortage, the free market says they should raise wages. So why is Canada’s government stepping in to make labour cheaper instead?
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 th...
Why Return-to-Office Didn't Bring Canadians Back to Big Cities
Why are so many young Canadian families leaving Toronto, Vancouver, and Montreal? Even after return-to-office mandates, the exodus from Canada's largest cities continues.
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 MontrealWhy return-to-office hasn't reversed the trendHousing affordability and the...From EI to Daycare: Navigating Parental Leave in Canada
Thinking about taking parental leave in Canada?
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:
What We Love About Canada | Canada Day Special 2026
Happy Canada Day!
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 chargesCanada's sense of community and belongingEducation affordability and student experiencesImmigration and Canada's multicultural identityNature, cities, and public spacesCanadian humour, humility, and cultureCanadian...Why Canada Stopped Building Homes for Families
For years, Canada's housing strategy focused on increasing the number of housing units built. But even during periods of record apartment construction, family-sized homes became increasingly scarce.
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...
FIFA Gets the Profits. Canadians Get the Bill.
The 2026 FIFA World Cup is finally here and Canada is on a roll! But as the excitement builds on the pitch, we're asking the tough questions: will this massive event actually deliver the economic win that was promised?
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..."Wait Until 2060": Canada's Housing Plan for Young People
Canada's Federal Housing Advocate says it could take until 2060 for all Canadians to have access to an affordable home. Is that just a realistic target? And is it reasonable to ask an entire generation to give up on their homeownership dreams for the next 3.5 decades?
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 shou...
This Court Ruling Could Change Property Ownership in Canada: Steve Saretsky
Canada’s housing market is entering a major shift. In this episode, Mike Moffatt sits down with Vancouver realtor and Loonie Hour host Steve Saretsky to break down the growing cracks in Canada’s real estate market — from falling condo prices and rising vacancy rates to investor selloffs, rent control, and the political fallout surrounding B.C.’s controversial Cowichan land title ruling. They also compare the housing markets in Vancouver, Toronto, and Calgary, and discuss what’s next for affordability, development, immigration-driven demand, and the future of housing policy in Canada.
Topics covered:
• The Cowichan land title r...
Will Baby Boomers Leave Behind a Housing Glut?
Many Canadians believe that when Baby Boomers leave their homes, a flood of houses will hit the market and solve the housing crisis. In this episode, Mike Moffatt and Cara Stern explore why that outcome is far from certain, examining the roles of immigration, population growth, housing supply, and changing housing preferences in shaping Canada's future.
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 p...
Toronto’s Housing Crisis Explained with Ron Butler | Live Event
Toronto’s housing crisis is no longer just about buying a home, it’s reshaping who can afford to build a future in the city at all. In this special live taping of The Missing Middle Podcast, Sabrina Maddeaux, Mike Moffatt, Cara Stern, and special guest Ron Butler unpack why young families are leaving Toronto, how policy failures created a city of “dog crate” condos and unaffordable homes, and what needs to change before affordability gets even worse.
Topics covered include:
• Why young families are leaving Toronto and the GTA
• The rise of tiny “dog crate” condos<...
Why Strong Communities Don’t Happen by Accident
Why does modern life feel so disconnected? In this episode, Cara Stern sits down with journalist and Scout leader Harrison Lowman to talk about the decline of community in Canada, and what it takes to rebuild it.
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.
Topi...
Answering Your Biggest Questions About Canada’s Housing Crisis
Why are young Canadians leaving cities? Why are seniors staying in homes that are too big for them? And can Canada lower housing costs without cutting quality of life even further?
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 downsizingThe shortage of family-sized homesHousing prices vs stagnant wagesSocial isolation and unaffordable citiesImmigration and housing demand...The Story Behind Canada’s Collapsing Fertility Rate
Canada’s fertility rate has fallen to just 1.25 children per woman, one of the lowest in the developed world. But what’s actually driving the decline? Are fewer Canadians having children, or are the ones having kids simply choosing to have fewer of them?
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.
Topic...
