The Missing Middle with Mike Moffatt and Sabrina Maddeaux How Canada Fell Behind the World on Housing Affordability
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Nov 5, 2025 Delve into Canada’s dismal housing affordability crisis, revealed to be among the worst globally. Home prices have skyrocketed at more than double the rate of incomes since 1999. Discover how Canada's record compares unfavorably with other OECD nations and why it can't hide behind the notion of a global trend. The hosts discuss theories behind escalating prices, including rapid immigration and financialization. Solutions are explored, emphasizing the need for responsibility in crafting effective housing policies.
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Avoid The '22% Interest' Deflection
- Don’t dismiss today's affordability issues by comparing to past high interest eras; focus on relative price-to-income distortions.
- Sabrina Maddeaux and Mike Moffatt stress that much higher principal balances now make housing unaffordability distinct from past rate shocks.
Design Housing For Actual Demand
- Challenge claims millennials don't want homes; build family-sized housing because demand exists but choices are constrained.
- Sabrina Maddeaux recommends reallocating housing options rather than assuming preference shifts.
Global Trend, Local Divergence
- Global factors matter but country outcomes diverge widely, so a single global explanation is insufficient.
- Mike Moffatt shows price movements vary by country in both magnitude and timing, undermining a one-size-fits-all theory.