

The Missing Middle Podcast
Cara Stern, Mike Moffatt, and Meredith Martin
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.
Episodes
Mentioned books

10 snips
Mar 27, 2026 • 44min
Paige Saunders: Why the US and Canada are Trapped (and how New Zealand escaped)
Paige Saunders, a YouTuber who explains electoral systems and advocates proportional representation. She breaks down how Canada’s voting rules distort policy, why swing ridings and elites entrench power, and why ranked choice can be a trap. She also explores international lessons, the limits of referendums, and why a binding citizens assembly might finally force change.

10 snips
Mar 25, 2026 • 23min
Second-Time Buyers Are Screwed (And Ignored)
A look at Canadians who bought starter homes and now cannot move up the housing ladder. Shortage of family-sized homes and policy focus on first-time buyers leave many stuck. The conversation covers condo-to-detached dynamics, public polling on housing priorities, proposals like expanding HST rebates, and debates over zoning, infrastructure funding, and gentle density.

Mar 20, 2026 • 16min
The Meritocracy Myth: Is Canada Still the Land of Opportunity?
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 between equal opportunity and equal outcomes, we explore why the rules of the game have changed, and what we need to fix to make Canada fair again.Chapters:00:00 Introduction00:46 Defining Meritocracy1:12 Is Canada a Meritocracy? 02:41 Measuring Meritocracy Income and Polls04:23 Generational Divide in Ipsos Poll05:54 Fairness Equal Opportunity vs Outcomes07:15 Economists on Eroding Social Mobility09:07 Increasing Distrust in Institutions & Distrust of Politicians09:47 Changing Minds Understanding New Realities11:13 Housing Crisis and Social Mobility12:45 The Role of Effort combined with EnvironmentResearch/links:Generational Disconnect In Canada Ipsos Equalities Index 2025 - A 31-country Global Advisor Studyhttps://www.ipsos.com/sites/default/files/ct/publication/documents/2025-08/generational-disconnect-in-Canada.pdfTrends in Intergenerational Income Mobility and Income Inequality in CanadaTrends in Intergenerational Income Mobility and Income Inequality in CanadaInternational Fairness Day 2024: Canada’s commitment to fairness for every generation is more than an empty slogan – but it’s not yet a realityhttps://www.if.org.uk/2024/11/18/international-fairness-day-2024-canadas-commitment-to-fairness-for-every-generation-is-more-than-an-empty-slogan-but-its-not-yet-a-reality/A retreat from opportunity: Is the Canadian dream still alive?https://thehub.ca/2025/11/10/deepdive-a-retreat-from-opportunity-is-the-canadian-dream-still-alive/Intergenerational income mobility in Canada: Research highlights from two recent studieshttps://www150.statcan.gc.ca/n1/pub/36-28-0001/2023012/article/00001-eng.htmHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinThis podcast is funded by the Neptis Foundation and brought to you by the Smart Prosperity Institute.

6 snips
Mar 18, 2026 • 10min
The Statistical Illusion Inside Canada’s Housing Data
They unpack why official housing start counts can be misleading and how timing and definitions mask real trends. They explore how most new supply is small condos, shrinking average home size and outdoor space. They examine falling pre-construction sales across cities and what that signals for future supply and prices.

8 snips
Mar 13, 2026 • 11min
Why You Can’t Find a Rental for Your Family (It’s Not Just the Price)
They dig into why family-sized rental apartments are nearly impossible to build in Canadian cities. They examine how building codes, zoning and old fire rules shape apartment layouts and reduce options. They compare European apartment norms with North American regulations. They explore how layered regulations push families out of cities and what policy change would need to look like.

21 snips
Mar 11, 2026 • 17min
Out of Nowhere: How Canada Fell Behind Alabama
They unpack the balky Canada-vs-Alabama headline and whether GDP per capita tells the whole story. They probe a widening generational wealth split and why young people face a much lower “floor.” They discuss Canada’s slide in global well-being rankings and the odd resource-curse complacency. They critique the reflex to only compare Canada to the U.S. and suggest looking elsewhere for policy inspiration.

9 snips
Mar 6, 2026 • 18min
The Giant Planning Error That Destroyed Housing Supply
A look at why seniors rarely downsize and how that mistaken planning assumption worsened housing shortages. Discussion of the financial and policy disincentives that make moving unrealistic. Exploration of how terms like "overhoused" shape public attitudes and fuel resentment. Ideas for gentle density and policy fixes that could let seniors downsize without uprooting community ties.

7 snips
Mar 4, 2026 • 18min
If We’re Not in a Recession… Why Does It Feel Like One?
They unpack the K-shaped split where the top 20 percent ride stock and investment gains while many struggle with soaring housing and living costs. Young people’s lack of asset exposure and parental wealth advantages get spotlighted. Rising food bank use and why GDP headlines feel disconnected from everyday reality are also explored.

Feb 27, 2026 • 16min
Is “Buying Canadian” Actually a Luxury for the Rich?
They debate whether boycotting U.S. goods is symbolic patriotism or an unaffordable luxury for younger Canadians. Polling and generational divides frame why older people favor buying American-free products while Millennials and Gen Z face affordability pressures. A car-buying story about a Canada-assembled vehicle sparks discussion on ethical shopping as a status signal. The conversation probes politics, travel judgment, and economic strain.

7 snips
Feb 25, 2026 • 19min
You’re “Middle Class” on Paper. So Why Do You Feel Broke?
They unpack why rising incomes and low unemployment still leave many feeling strapped. The conversation highlights hidden costs like housing, childcare and tech that became necessities. They explore hedonic adjustments, the two-income trap and how nostalgia skews our view of past prosperity. The segment connects modern pressures to visible downward mobility for younger generations.


