The Missing Middle with Mike Moffatt and Sabrina Maddeaux

Cara Stern, Mike Moffatt, and Meredith Martin
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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.

  1. 6D AGO

    From Kraft Dinner to Condos: The Great Shrinkage

    In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux dig into the rise of shrinkflation, from grocery store products like cereal and Kraft Dinner to Canada’s shrinking condos, and reveal how companies, developers, and government policies are quietly giving Canadians less for more. From deceptive packaging and behavioral economics tricks to the rise of shoebox condos and poor layouts, we explore how rising costs, investor-driven development, and flawed housing policies are reshaping everyday life. If you’ve ever wondered why your groceries don’t stretch as far or why today’s apartments feel more like closets than homes, this is a conversation you won’t want to miss. Chapters 00:00 Introduction 01:08 Understanding shrinkflation 02:54 Sabrina’s a KD fangirl - who knew? 05:12 The economics behind shrinkflation 07:22 Price anchoring explained 08:25 The shrinking size of living spaces 11:52 Why are units getting so much smaller? 15:39 What’s driving bad design? 18:02 Generational perspectives on housing preferences 19:22 Constrained optimization explained 21:26 Is the investor condo market dead? 23:30 Policy changes to combat shrinkflation research/links: Working paper Mike refers to:  Shrinkflation∗ https://drive.google.com/file/d/15tpbhBziggFL-RvjlVgjqBQcNXzcIrWh/view Condo size data https://www.mpac.ca/en/News/PressRelease/spacioushomescompactcondosMPACdatarevealsshiftinghousingtrendsacrossOntario  The condo crash won’t fix our housing problem. In fact, it just might make it worse https://www.thestar.com/opinion/contributors/the-condo-crash-wont-fix-our-housing-problem-in-fact-it-just-might-make-it/article_7c44519f-cdbe-4978-b575-ffc1ef9a76bd.html Hosts:  Sabrina Maddeaux https://x.com/SabrinaMaddeaux  Mike Moffatt https://twitter.com/MikePMoffatt https://bsky.app/profile/mikepmoffatt.bsky.social Producer: Meredith Martin  https://twitter.com/meredithmartin  @meredithmartin.bsky.social Editor: Sean Foreman @seanegertonforeman @seanforeman.bsky.social Coop Student: Djeima Alicia Ramos This podcast is funded by the Neptis Foundation https://neptis.org/ Brought to you by the Missing Middle Initiative https://www.missingmiddleinitiative.ca/ Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    26 min

  2. SEP 24

    Ontario’s Housing Sales Collapse: It’s Not Just Toronto Condos

    Ontario’s housing market is in crisis, and it’s not just condos in downtown Toronto. In this episode of The Missing Middle Podcast, Mike Moffatt and Sabrina Maddeaux break down a bleak new report on housing starts and sales across 34 municipalities. From plummeting pre-construction sales and stalled ground-oriented homes, to the looming loss of 21,000 jobs, we explore why affordability is worse than ever, why government housing targets are falling short, and what it all means for buyers, renters, and the economy. Chapters 00:00 Introduction and overview of the housing crisis  01:59 Insights from the residential construction report card 03:19 Falling housing starts and rising unemployment 04:10 Understanding housing starts and sales dynamics 06:01 What is a housing start? 08:00 1.5 million homes by 2032 is unachievable  09:19 Any good news? 10:02  Political accountability and the housing crisis Research/Links: Failing Grades, Falling Starts: Ontario Housing’s Bleak Mid-Year Checkup Condo Crashes, Shrinkflation, & The Death of Homeownership? Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    13 min

  3. SEP 17

    Who Really Wins with Return-to-Office Mandates?

    In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt break down Ontario’s new return-to-office mandate and the big banks’ similar policies, asking what they really mean for younger workers and families already facing high housing costs, long commutes, and stagnant wages. They explore the trade-offs between productivity, commuting, and control, while producer Meredith Martin joins to share her perspective as a former union leader on mentorship, collaboration, and what might be lost if remote work fully takes over. Chapters 00:00 Introduction 01:15 Return to office mandates: An overview 04:22 What Premier Ford’s RTO mandate is trying to achieve 05:15 Impact on younger workers and families 06:55 Disconnect between RTO mandates and ESG targets 09:26 Meredith thinks humans should see each other IRL 12:43 The role of mentorship and social interaction at work 15:20 Debating how much office culture has changed research/links: Productivity During and Since the Pandemic The Post-Pandemic Workplace: The Experiment Continues Number of Canadian commuters increases for fourth straight year in 2025 Romance in the work place: Esther Perel on How Technology Is Changing Love and Work | Prof G Conversations New SHRM Survey: Workplace Romance 2023 Mixing work with pleasure: Two-thirds of Brits have been romantically involved with a colleague Return to the Office: Amazon Tells Corporate Workers to Be Back in the Office 5 Days a Week Executives and Research Disagree About Hybrid Work. Why? Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    17 min

  4. SEP 10

    Condo Crashes, Shrinkflation, & The Death of Homeownership?

    In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt dig into Canada’s condo market crash, the rise of “housing shrinkflation,” and what it all means for young Canadians chasing the dream of homeownership. They unpack why falling condo prices aren’t actually fixing the housing crisis, how developers and government policies have fueled the problem, and why middle-class buyers are being left behind. If you’ve been wondering whether Canada is headed for a nation of “forever renters,” this is a conversation you don’t want to miss. Chapters 00:00 Introduction 02:02 The condo market collapse: an overview 04:03  The impact of shrinkflation on housing 04:54 Ron Butler pop up 07:48 Government policies and middle-class homeownership 11:56 The future of homeownership in canada Research/links Sabrina’s Toronto Star column https://www.thestar.com/opinion/contributors/the-condo-crash-wont-fix-our-housing-problem-in-fact-it-just-might-make-it/article_7c44519f-cdbe-4978-b575-ffc1ef9a76bd.html New Condo Sales in GTA Hit 3rd-Highest Level on Record in 2019: Report https://storeys.com/new-condo-sales-gta-2019/ Homeownership rate for City of Toronto: https://www12.statcan.gc.ca/census-recensement/2021/as-sa/fogs-spg/alternative.cfm?topic=7&lang=E&dguid=2021A00033520&objectId=7  Toronto condo market is in ‘free fall,’ federal housing minister says https://www.thestar.com/real-estate/toronto-condo-market-is-in-free-fall-federal-housing-minister-says/article_66c26722-1f22-4b28-bf95-3e98f2e02159.html Ron Butler: Condo Crash Meets Housing Crisis https://youtu.be/9xD5veEsB3U?si=-9A-N2jecO8u63N8 Hosts:  Sabrina Maddeaux https://x.com/SabrinaMaddeaux  Mike Moffatt https://twitter.com/MikePMoffatt https://bsky.app/profile/mikepmoffatt.bsky.social Producer: Meredith Martin  https://twitter.com/meredithmartin  @meredithmartin.bsky.social Editor: Sean Foreman @seanegertonforeman @seanforeman.bsky.social This podcast is funded by the Neptis Foundation https://neptis.org/ Brought to you by the Missing Middle Initiative https://www.missingmiddleinitiative.ca/ Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    17 min

  5. SEP 3

    The Secret Life of Think Tanks: Funding, Influence & Careers

    Ever wonder what people at think tanks actually do all day? In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt pull back the curtain on the mysterious world of think tanks. From how they’re structured and funded, to the challenges of staying independent, they explore what really goes on behind the scenes. You’ll also hear about career opportunities for young professionals, why U.S. think tanks dwarf their Canadian counterparts, and how think tanks influence policies that affect our everyday lives—from housing to poverty reduction. If you’ve ever been curious about the brains behind public policy, this episode is for you. Chapters 00:00 Introduction 03:00 Understanding think tanks 04:38 The structure and function of academic think tanks 07:53 Funding models: how think tanks sustain themselves 09:34 Misconceptions about think tank funding 11:58 Maintaining independence: challenges and strategies 16:13 Career opportunities in think tanks 18:09 Comparing Canadian and American think tanks Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    21 min

  6. AUG 27

    Infill Housing Battles: What 15 Years of Data Reveal

    Why do some infill housing projects spark outrage while others fly under the radar? In this episode of The Missing Middle, host Sabrina Matto sits down with former London City Councillor and researcher Jesse Helmer to unpack 15 years of planning committee decisions. They explore why certain housing proposals face fierce opposition, what factors reduce pushback, and how cities can actually build more homes with community support. From surprising success stories to lessons learned in local politics, this conversation sheds light on the politics of infill housing—and why it matters for solving Canada’s housing crisis. If you’re interested in urban planning, housing affordability, or how communities can embrace smarter growth, this episode is for you. Chapters 00:00 Introduction  01:00 Infill development research with Jesse Helmer 02:40 Factors influencing opposition to housing proposals 05:30 Research methodology and analysis 08:23 Following up with residents after a project is built 11:15 Jesse’s personal journey as a London city councillor 14:08 Optimism for housing solutions 16:28  Personal reflections about Jesse’s time on London city council Research: https://www.missingmiddleinitiative.ca/p/the-politics-of-infill-housing-what Guest: Jesse Helmer:  https://x.com/jesse_helmer Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    20 min

  7. AUG 20

    The High Cost of Losing Your Creative Class

    Canadian cities are facing a creative crisis. Rising housing costs are driving artists, musicians, designers, and other innovators out — and it’s not just culture that’s at risk. In this episode, Sabrina Maddeaux and Mike Moffatt break down how losing the “creative class” hurts local economies, tourism, and even a city’s ability to attract tech and finance talent. From the ripple effects on nightlife and small businesses to the loss of vital cultural spaces, we explore why cities can’t afford to price out their creative heartbeat — and what policies could help keep them. Chapters 00:00 Introduction 01:13 Defining the creative class exodus 02:57 How housing costs impacts creative workers 05:54 The economic consequences of pricing out creatives 08:45 The ripple effect of losing creative spaces to the housing crisis 11:16 You can’t simply trade artists for tech workers  12:50 How this impacts the tourism economy 14:50 Policy solutions for retaining creatives Research/Links: Richard Florida Toronto Arts Council economic impact study CBC Arts article on artist couples leaving Toronto Richard Florida's work on creative cities and economic development Business Parks Suck (but they don't have to) Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    17 min

  8. AUG 13

    Can Tax Reform Help Young Canadians Afford Homes?

    Are young Canadians being taxed like millionaires while living like broke students? Sabrina Maddeaux and Mike Moffatt dive into the jaw-dropping disconnect between salaries, taxes, and the insane cost of housing. From bold tax reform ideas to creative fixes for rent, down payments, and wealth inequality, they tackle the policies (and politics) holding the next generation back. Expect sharp insights, a few laughs, and fresh solutions that could actually make life affordable again. Chapters 00:00 The Tax Burden on Young Canadians 11:24 Proposed Tax Reforms and Their Implications 23:17 Wealth Inequality and Asset Inflation 34:55 Finding Solutions for Young Canadians Research/Links: To fix housing, we must rethink what wealth means in Canada CIBC chief calls for tax changes to help young Canadians struggling to save money Canada housing affordability and market trends Wealthsimple Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    31 min
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4.7
out of 5
45 Ratings

About

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.

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