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.
