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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.
168 Episodes
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If birth rates are falling, is it really because people want fewer kids—or because they feel like they can’t afford them? In this episode, Cara Stern and Mike Moffatt unpack the growing gap between “preference” and “choice” when it comes to starting a family. From the rising financial and social costs of raising children to the pressure of modern parenting norms, they explore why having kids today feels harder, even for people who say they want them. The conversation dives into everything fr...
Are provincial governments raising your taxes in secret? 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. ...
For years, the Missing Middle team has advocated for reducing the tax burden on new construction. With pre-construction sales down 95% in some GTA markets, the industry has hit a wall where it simply makes no financial sense to build. 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. Th...
If inflation is only around 2–3%, why does everything feel so much more expensive? 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. c...
In this episode of The Missing Middle, Cara Stern sits down with YouTuber Paige Saunders to discuss the one structural glitch that is sabotaging Canada’s economy, healthcare, and housing market: our electoral system. 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 ...
You built equity, planned ahead, and did everything right, so why is the next step on the housing ladder completely out of reach? 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 Mad...
Is Canada still a “land of opportunity,” or has your success become a function of who your parents are? 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 betw...
In 2025, Canada Mortgage and Housing Corporation (CMHC) reported nearly 260,000 housing starts, a figure that suggests real progress on the housing crisis. But a deeper look reveals a much more complicated and concerning reality. 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 condi...
Looking for a family-sized apartment in Canada feels almost impossible. In this episode, Cara Stern and Mike Moffatt explore why they’re so rare in Canadian cities and why building regulations, zoning, and outdated fire safety rules make larger units nearly impossible to construct. Restrictive codes, high costs, and policy gaps mean that families often end up squeezed into spaces that don’t meet their needs or leave cities entirely. This shortage has shaped urban life, contributed to declini...
Is the Canadian dream officially broken? A recent headline claiming Canada is now poorer than Alabama sparked outrage and pearl-clutching from coast to coast. But beyond the headlines, what does the data actually say about our quality of life? In this episode of Classonomics, hosts Mike Moffatt and Sabrina Maddeaux strip away the “economic hubris” and look at the cold, hard numbers. They explore why Canadians are so obsessed with “dunking on Americans” that we’ve ignored a decade of stagnati...
For decades, housing planners have assumed that seniors would eventually downsize, freeing up family homes for the next generation. But that hasn’t happened. 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...
If Canada isn’t in a recession, why does it feel like one for so many Canadians? 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 ...
Is boycotting American products a patriotic duty, or a luxury belief most Canadians can’t afford? In this episode of The Missing Middle, Cara Stern and Mike Moffatt unpack the growing generational divide in Canada, and why older Canadians are far more likely to boycott U.S. products, while younger Canadians are stuck navigating a brutal affordability crisis. After a winter storm destroyed his car, Mike shares why he chose a Canadian-assembled vehicle, and how that decision sparked a bigger ...
If $130,000 is the new poverty line… what does that make you? 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-inco...
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 communitie...
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...
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 do...
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 be...
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 youn...
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.= ...
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