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.
