Dr. Mike P. Moffatt
@mikepmoffatt.bsky.social
Co-Host, "Missing Middle". Husband. Father. Brother. Son. Economist. Housing guy. I used to do other stuff.
New episode! We examine how Canada's fiscal system has become increasingly tilted toward older generations, leaving millennials and Gen Z to face higher costs, fewer supports, and growing financial strain.
Watch here: youtu.be/lbM3_BPDJ5Y...
Watch here: youtu.be/lbM3_BPDJ5Y...
November 26, 2025 at 2:20 PM
New episode! We examine how Canada's fiscal system has become increasingly tilted toward older generations, leaving millennials and Gen Z to face higher costs, fewer supports, and growing financial strain.
Watch here: youtu.be/lbM3_BPDJ5Y...
Watch here: youtu.be/lbM3_BPDJ5Y...
Today on MMI, we look at the federal government's $55 billion Apartment Construction Loan Program, which might actually be making the government money. Unfortunately, the new federal accounting framework can't provide that answer.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
November 25, 2025 at 1:03 PM
Today on MMI, we look at the federal government's $55 billion Apartment Construction Loan Program, which might actually be making the government money. Unfortunately, the new federal accounting framework can't provide that answer.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
Nope - the highest they hit was ~14% in the early 80s.
November 24, 2025 at 10:46 PM
Nope - the highest they hit was ~14% in the early 80s.
Over the weekend, the federal government quietly released additional details about Build Canada Homes. The increased transparency reveals a program that prioritizes 1- and 2-bedroom low-rise homes and lacks genuine support for innovation.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
November 24, 2025 at 12:57 PM
Over the weekend, the federal government quietly released additional details about Build Canada Homes. The increased transparency reveals a program that prioritizes 1- and 2-bedroom low-rise homes and lacks genuine support for innovation.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
New piece coming out tomorrow at 7:45am - look for it in your inbox!
November 23, 2025 at 11:41 PM
New piece coming out tomorrow at 7:45am - look for it in your inbox!
Doing some background research for a 20-year lookback on the Greenbelt and the 2006 Growth Plan. The discussions at the time were quite interesting.
November 21, 2025 at 11:24 AM
Doing some background research for a 20-year lookback on the Greenbelt and the 2006 Growth Plan. The discussions at the time were quite interesting.
New episode!
Yesterday, the feds released the Budget implementation bill with a new "Stablecoin Act", allowing for made-in-Canada stablecoins to be issued.
Sabrina and I talk about why this matters, and how it could help the middle-class.
Watch here: www.youtube.com/watc...
Yesterday, the feds released the Budget implementation bill with a new "Stablecoin Act", allowing for made-in-Canada stablecoins to be issued.
Sabrina and I talk about why this matters, and how it could help the middle-class.
Watch here: www.youtube.com/watc...
November 19, 2025 at 3:17 PM
New episode!
Yesterday, the feds released the Budget implementation bill with a new "Stablecoin Act", allowing for made-in-Canada stablecoins to be issued.
Sabrina and I talk about why this matters, and how it could help the middle-class.
Watch here: www.youtube.com/watc...
Yesterday, the feds released the Budget implementation bill with a new "Stablecoin Act", allowing for made-in-Canada stablecoins to be issued.
Sabrina and I talk about why this matters, and how it could help the middle-class.
Watch here: www.youtube.com/watc...
Now back online after the Cloudflare outage!
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
November 18, 2025 at 4:32 PM
Now back online after the Cloudflare outage!
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
Spoiler for an upcoming piece. On average, the income of men aged 65+ in Canada is higher than that of their 25-34-year-old counterparts.
November 18, 2025 at 3:47 PM
Spoiler for an upcoming piece. On average, the income of men aged 65+ in Canada is higher than that of their 25-34-year-old counterparts.
My response to a recent episode of @TheHerleBurly.
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
November 18, 2025 at 11:59 AM
My response to a recent episode of @TheHerleBurly.
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
Why an HST Cut Pushes Home Prices Down and Helps Build More Homes
An explainer on a policy that would actually lower home prices, an outcome some governments desperately hope to avoid.
Read here: www.missingmiddleini...
Listening to City of Toronto councillors endlessly debate the issue of corner stores makes it clear why there's a housing shortage across the GTA, and why there is a continued outmigration of families to other parts of Ontario.
November 13, 2025 at 10:12 PM
Listening to City of Toronto councillors endlessly debate the issue of corner stores makes it clear why there's a housing shortage across the GTA, and why there is a continued outmigration of families to other parts of Ontario.
There's no subjectivity in the National Occupancy Standard. It is based on the number of bedrooms, not square footage.
Could these be improved upon? Sure. Then do the hard work to do that.
Could these be improved upon? Sure. Then do the hard work to do that.
November 12, 2025 at 3:02 PM
There's no subjectivity in the National Occupancy Standard. It is based on the number of bedrooms, not square footage.
Could these be improved upon? Sure. Then do the hard work to do that.
Could these be improved upon? Sure. Then do the hard work to do that.
Big news! Cara makes her triumphant post-parental leave return to the pod. Today, we discuss Zohran's proposal to freeze rents, the current system's impact on mobility, and the need for higher vacancy rates.
Watch here: www.youtube.com/watc...
Watch here: www.youtube.com/watc...
November 12, 2025 at 2:24 PM
Big news! Cara makes her triumphant post-parental leave return to the pod. Today, we discuss Zohran's proposal to freeze rents, the current system's impact on mobility, and the need for higher vacancy rates.
Watch here: www.youtube.com/watc...
Watch here: www.youtube.com/watc...
New MMI piece: We look at the 3.5 million people in Canada who live in a home that is too small to meet their needs, and how a mismanaged push by governments and urban planners towards densification is at odds with the human right to housing.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
November 11, 2025 at 12:34 PM
New MMI piece: We look at the 3.5 million people in Canada who live in a home that is too small to meet their needs, and how a mismanaged push by governments and urban planners towards densification is at odds with the human right to housing.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
On CBC's The Current, federal Housing Minister Gregor Robertson was asked about my comments that the federal budget shifted the focus from growing the housing supply to cutting housing demand through immigration cuts. Here is his response.
November 10, 2025 at 4:46 PM
On CBC's The Current, federal Housing Minister Gregor Robertson was asked about my comments that the federal budget shifted the focus from growing the housing supply to cutting housing demand through immigration cuts. Here is his response.
Earlier today on Rosemary Barton Live, Finance Minister FP Champagne was asked about our comments calling the federal budget measures on housing "disappointing".
Here is his response.
Here is his response.
November 9, 2025 at 5:24 PM
Earlier today on Rosemary Barton Live, Finance Minister FP Champagne was asked about our comments calling the federal budget measures on housing "disappointing".
Here is his response.
Here is his response.
Today's Ontario Fall Economic Statement now forecasts fewer than 65,000 housing starts this year, which would be the fewest number of starts since 2014.
November 6, 2025 at 8:28 PM
Today's Ontario Fall Economic Statement now forecasts fewer than 65,000 housing starts this year, which would be the fewest number of starts since 2014.
New MMI episode! Today, we ask, "Is Canada the worst country in the world when it comes to housing affordability?"
The short version: It depends on what metric you use, but quite possibly "yes".
For the long answer, watch the episode here: www.youtube.com/watc...
The short version: It depends on what metric you use, but quite possibly "yes".
For the long answer, watch the episode here: www.youtube.com/watc...
November 5, 2025 at 2:26 PM
New MMI episode! Today, we ask, "Is Canada the worst country in the world when it comes to housing affordability?"
The short version: It depends on what metric you use, but quite possibly "yes".
For the long answer, watch the episode here: www.youtube.com/watc...
The short version: It depends on what metric you use, but quite possibly "yes".
For the long answer, watch the episode here: www.youtube.com/watc...
Earlier today, MMI cautioned readers not to expect a housing miracle in today’s Federal Budget. I went into the budget lockup expecting to be disappointed, but I had inadequately prepared myself for how disappointed I would be.
My take here: www.missingmiddleini...
My take here: www.missingmiddleini...
November 4, 2025 at 10:34 PM
Earlier today, MMI cautioned readers not to expect a housing miracle in today’s Federal Budget. I went into the budget lockup expecting to be disappointed, but I had inadequately prepared myself for how disappointed I would be.
My take here: www.missingmiddleini...
My take here: www.missingmiddleini...
New MMI piece! When it comes to housing policy, our expectations are quite low for today's federal budget. We hope to be pleasantly surprised.
Here's why we're not expecting to see much, despite aggressive targets and cratering new home sales: www.missingmiddleini...
Here's why we're not expecting to see much, despite aggressive targets and cratering new home sales: www.missingmiddleini...
November 4, 2025 at 12:14 PM
New MMI piece! When it comes to housing policy, our expectations are quite low for today's federal budget. We hope to be pleasantly surprised.
Here's why we're not expecting to see much, despite aggressive targets and cratering new home sales: www.missingmiddleini...
Here's why we're not expecting to see much, despite aggressive targets and cratering new home sales: www.missingmiddleini...
New MMI piece!
Canada vs. the World: The Worst Record on Housing Affordability Since 2004
Home price-to-income ratios in Canada have increased by over 80% since 2004, the highest among the 23 OECD nations with full data.
Read here: www.missingmiddleini...
Canada vs. the World: The Worst Record on Housing Affordability Since 2004
Home price-to-income ratios in Canada have increased by over 80% since 2004, the highest among the 23 OECD nations with full data.
Read here: www.missingmiddleini...
November 3, 2025 at 12:18 PM
New MMI piece!
Canada vs. the World: The Worst Record on Housing Affordability Since 2004
Home price-to-income ratios in Canada have increased by over 80% since 2004, the highest among the 23 OECD nations with full data.
Read here: www.missingmiddleini...
Canada vs. the World: The Worst Record on Housing Affordability Since 2004
Home price-to-income ratios in Canada have increased by over 80% since 2004, the highest among the 23 OECD nations with full data.
Read here: www.missingmiddleini...
There has been an unexpectedly high level of interest in the data I posted earlier today on housing affordability across OECD countries.
The full piece will be available tomorrow at 7:30 a.m. on the MMI Substack.
The full piece will be available tomorrow at 7:30 a.m. on the MMI Substack.
November 2, 2025 at 10:27 PM
There has been an unexpectedly high level of interest in the data I posted earlier today on housing affordability across OECD countries.
The full piece will be available tomorrow at 7:30 a.m. on the MMI Substack.
The full piece will be available tomorrow at 7:30 a.m. on the MMI Substack.
Bonus Sunday piece!
The GTA’s Missing Middle: Not Just a Housing Type, but a Whole Generation of Families
The math is clear: families go where family-sized homes are built (r = 0.71).
Read here: www.missingmiddleini...
The GTA’s Missing Middle: Not Just a Housing Type, but a Whole Generation of Families
The math is clear: families go where family-sized homes are built (r = 0.71).
Read here: www.missingmiddleini...
November 2, 2025 at 5:30 PM
Bonus Sunday piece!
The GTA’s Missing Middle: Not Just a Housing Type, but a Whole Generation of Families
The math is clear: families go where family-sized homes are built (r = 0.71).
Read here: www.missingmiddleini...
The GTA’s Missing Middle: Not Just a Housing Type, but a Whole Generation of Families
The math is clear: families go where family-sized homes are built (r = 0.71).
Read here: www.missingmiddleini...