The Missing Middle Podcast

Cara Stern, Mike Moffatt, and Meredith Martin
  • 4.0 (4)
  • NEWS COMMENTARY
  • UPDATED WEEKLY

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

    2D AGO

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

    Why is it so hard to make friends once you leave school? In this episode of The Missing Middle, Cara Stern and Mike Moffatt dive into the "Loneliness Epidemic" and the disappearing concept of the Third Place – those vital social hubs that aren't home (the first place) or work (the second place). 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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    24 min
  2. The Hidden Job Market Crisis No One Is Talking About

    4D AGO

    The Hidden Job Market Crisis No One Is Talking About

    The unemployment rate says everything is fine. So why does finding a job feel impossible? 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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    16 min
  3. Why Canadian Transit is Failing Families (and How to Fix It)

    FEB 13

    Why Canadian Transit is Failing Families (and How to Fix It)

    Does having a baby mean you're officially "car-dependent"?  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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    36 min
  4. Why Risky Bets Are Rational in a Housing Crisis

    FEB 11

    Why Risky Bets Are Rational in a Housing Crisis

    Your 20s: risky bets, crypto hype, and meme stocks. 🎲 Sabrina Maddeaux and Mike Moffatt explain why being priced out of a home is turning saving into gambling — and why young men are taking the biggest swings. 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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    23 min
  5. AI is Killing Entry-Level Jobs: The 13% Drop Nobody is Talking About

    FEB 6

    AI is Killing Entry-Level Jobs: The 13% Drop Nobody is Talking About

    Yesterday, Bank of Canada governor Tiff Mackem warned that early evidence shows AI is reducing the number of entry-level jobs available.  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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    20 min
  6. Canada’s Starter Home Is Dead

    FEB 4

    Canada’s Starter Home Is Dead

    Canada’s housing ladder is broken. In this episode of Missing Middle, Sabrina Maddeaux and Mike Moffatt explain why the starter home no longer works and how an entire generation has been locked out of moving up. 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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    25 min
  7. Canada’s Demographic Time Bomb: What Boom, Bust & Echo Got Right

    JAN 30

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

    Canada’s housing crisis. Youth unemployment. Immigration debates. A broken healthcare system. 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 This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    26 min
  8. These Changes Can Help Make Homes Affordable for Young People

    JAN 28

    These Changes Can Help Make Homes Affordable for Young People

    In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux dig into why homeownership for Canadians under 40 has fallen off a cliff. Spoiler: it’s not just zoning, NIMBYs, or avocado toast. The federal government plays a much bigger role in today’s housing mess than it likes to admit. They break down how rapid population growth collided with a massive slowdown in building family-sized homes, why “dog-crate condos” became the default housing plan, and how taxes, development charges, and investors quietly push prices even higher. They also ask the uncomfortable question: do first-time buyer programs actually help young people — or just lock in high prices? From down payments that feel impossible, to policies that accidentally reward investors over families, this episode gets into what’s broken, who benefits, and what Ottawa could actually do if it wanted to bring the dream of homeownership back to life. If you’ve ever wondered how Canada managed to make buying a home feel impossible — this one’s for you. 00:00 – Intro: Is the dream of homeownership dead? 01:08 – The Federal Role: Debunking the "Provincial Responsibility" trope 01:58 – How Federal immigration and monetary policy impact housing 04:12 – A Blueprint to Restore Homeownership: The 4 big hurdles 06:30 – Not All Units are Equal 10:22 – How Population Growth Affects Supply and Demand 12:06 – Time to Reduce Taxes on Homes 14:05 – Making It Easier for First-Time Buyers 16:14 – Will these Policies just Drive Prices Up? 17:59 – The "Second-Time Buyer" crisis and downsizing seniors 21:09 – Incentivizing Seniors to Downsize 22:00 - Getting investors out of single-family homes: The MURB plan Research/Links A Blueprint to Restore Homeownership for Young Canadians https://www.missingmiddleinitiative.ca/p/a-blueprint-to-restore-homeownership The Quiet Death of the Investor Condo? MURBs May Change the Game https://www.missingmiddleinitiative.ca/p/the-quiet-death-of-the-investor-condo How to get single family homes out of the hands of investors https://www.thestar.com/opinion/contributors/this-is-how-the-government-can-get-single-family-homes-out-of-the-hands-of/article_0f92b0f4-e67e-4a84-aa62-2c9316492363.html Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux Produced by Meredith Martin This podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

    25 min
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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.

Information

  • Creator
    Cara Stern, Mike Moffatt, and Meredith Martin
  • Years Active
    2023 - 2026
  • Episodes
    154
  • Rating
    Clean
  • Copyright
    © 2026 The Missing Middle Podcast
  • Show Website
    The Missing Middle Podcast

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