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 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...
I'm just one of a handful of housing folks quoted in this Globe piece, all saying the same thing: "Federal budget falls short in addressing housing affordability, experts say".
Read here:
Read here:
Federal budget falls short in addressing housing affordability, experts say
Academics and builders’ associations says 2025 budget measures watered down from Liberal election pledges
www.theglobeandmail.com
November 10, 2025 at 10:38 PM
I'm just one of a handful of housing folks quoted in this Globe piece, all saying the same thing: "Federal budget falls short in addressing housing affordability, experts say".
Read here:
Read here:
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.
Latest at the Toronto Star, on Budget 2025 only fully implementing 1 of 4 housing commitments, the focus on reducing housing demand by immigration cuts, and the adoption of the "take control" slogan popularized by Nigel Farage and Leave.
Read here:
Read here:
Mark Carney’s promise on housing was to build build build. What happened?
In focusing on immigration, the Liberals may well be taking aim at the wrong thing.
www.thestar.com
November 10, 2025 at 12:45 PM
Latest at the Toronto Star, on Budget 2025 only fully implementing 1 of 4 housing commitments, the focus on reducing housing demand by immigration cuts, and the adoption of the "take control" slogan popularized by Nigel Farage and Leave.
Read here:
Read here:
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.
Agree with this take from Matt Gurney (and not just because I'm cited in it). There's a surprising lack of urgency from the federal government on any file, particularly when compared to the standard they set out for themselves on the campaign.
Read here:
Read here:
Matt Gurney: The Carney salvation will be arriving 'slower than anticipated'
A man who ran as a national saviour is governing like an incremental optimizer. And we really shouldn't be surprised.
www.readtheline.ca
November 9, 2025 at 4:18 PM
Agree with this take from Matt Gurney (and not just because I'm cited in it). There's a surprising lack of urgency from the federal government on any file, particularly when compared to the standard they set out for themselves on the campaign.
Read here:
Read here:
I was on Power and Politics on Thursday, giving my thoughts on the federal Budget 2025, as it relates to housing.
When it comes to the Budget, this policy Dad says, "I'm not mad, just disappointed by your choices".
Watch here: www.cbc.ca/player/pl...
When it comes to the Budget, this policy Dad says, "I'm not mad, just disappointed by your choices".
Watch here: www.cbc.ca/player/pl...
November 8, 2025 at 8:30 PM
I was on Power and Politics on Thursday, giving my thoughts on the federal Budget 2025, as it relates to housing.
When it comes to the Budget, this policy Dad says, "I'm not mad, just disappointed by your choices".
Watch here: www.cbc.ca/player/pl...
When it comes to the Budget, this policy Dad says, "I'm not mad, just disappointed by your choices".
Watch here: www.cbc.ca/player/pl...
Buried on Page 119 of the federal budget is a commitment to "introduce legislation to regulate the issuance of fiat-backed stablecoins in Canada."
I'm absolutely delighted to see this! We released a research report on the idea back in September:
I'm absolutely delighted to see this! We released a research report on the idea back in September:
Dollar-Backed Stablecoins and Affordability for Canadians
A new report from MMI and Canada 2020
www.missingmiddleinitiative.ca
November 7, 2025 at 5:21 PM
Buried on Page 119 of the federal budget is a commitment to "introduce legislation to regulate the issuance of fiat-backed stablecoins in Canada."
I'm absolutely delighted to see this! We released a research report on the idea back in September:
I'm absolutely delighted to see this! We released a research report on the idea back in September:
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.
Budget reaction piece at The Hub. A number of experts weigh in; I share my thoughts on housing, along with the government's decision to follow Keir Starmer's footsteps in adopting Brexit-inspired language to refer to immigration reform.
Read here:
Read here:
‘More continuity than change’: The Hub reacts to Mark Carney’s big-spending budget
Federal budget highlights and lowlights
thehub.ca
November 5, 2025 at 4:36 PM
Budget reaction piece at The Hub. A number of experts weigh in; I share my thoughts on housing, along with the government's decision to follow Keir Starmer's footsteps in adopting Brexit-inspired language to refer to immigration reform.
Read here:
Read here:
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...
Out of budget lockup. I recently wrote: "Ottawa imposes a 10 percent luxury tax on yachts... yet a family buying a semi in Scarborough pays the equivalent of 15 percent in [DCs] and land transfer taxes."
Today the gov't addressed this by eliminating the luxury tax on yachts.
Today the gov't addressed this by eliminating the luxury tax on yachts.
November 4, 2025 at 9:14 PM
Out of budget lockup. I recently wrote: "Ottawa imposes a 10 percent luxury tax on yachts... yet a family buying a semi in Scarborough pays the equivalent of 15 percent in [DCs] and land transfer taxes."
Today the gov't addressed this by eliminating the luxury tax on yachts.
Today the gov't addressed this by eliminating the luxury tax on yachts.
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...
I do mean the platform. I find if I post anything here that could be interpreted as even remotely critical of the federal government, there's instant backlash. It's weird.
I thought you meant the platform at first.
November 2, 2025 at 5:22 PM
I do mean the platform. I find if I post anything here that could be interpreted as even remotely critical of the federal government, there's instant backlash. It's weird.
I'm really beginning to loathe Bluesky. If a chart is posted as a spoiler, that means the larger piece will contain explanatory details not found in the spoiler.
Anyway, here's the price-to-income change data for every OECD country, spanning 2004-2024.
Anyway, here's the price-to-income change data for every OECD country, spanning 2004-2024.
November 2, 2025 at 5:19 PM
I'm really beginning to loathe Bluesky. If a chart is posted as a spoiler, that means the larger piece will contain explanatory details not found in the spoiler.
Anyway, here's the price-to-income change data for every OECD country, spanning 2004-2024.
Anyway, here's the price-to-income change data for every OECD country, spanning 2004-2024.
I received multiple requests to see how Portugal performed in terms of housing affordability from 2014 to 2024. Here is every single OECD country with data from that period.
And, yep.. Canada is only the 2nd worst out of 32 countries. Portugal is slightly worse than Canada.
And, yep.. Canada is only the 2nd worst out of 32 countries. Portugal is slightly worse than Canada.
November 2, 2025 at 3:11 PM
I received multiple requests to see how Portugal performed in terms of housing affordability from 2014 to 2024. Here is every single OECD country with data from that period.
And, yep.. Canada is only the 2nd worst out of 32 countries. Portugal is slightly worse than Canada.
And, yep.. Canada is only the 2nd worst out of 32 countries. Portugal is slightly worse than Canada.
Spoiler for an upcoming piece. I often hear people dismissing Canada's housing crisis by saying, "Mike, home prices skyrocketed everywhere, it's not just a Canada thing".
Turns out... nope. It really is a Canada thing.
Turns out... nope. It really is a Canada thing.
November 2, 2025 at 12:10 PM
Spoiler for an upcoming piece. I often hear people dismissing Canada's housing crisis by saying, "Mike, home prices skyrocketed everywhere, it's not just a Canada thing".
Turns out... nope. It really is a Canada thing.
Turns out... nope. It really is a Canada thing.
Special bonus Saturday piece, on how the provincial government is underestimating and underforecasting the number of families leaving the GTA for other parts of Ontario, and why this will cause housing shortages to persist.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
November 1, 2025 at 3:50 PM
Special bonus Saturday piece, on how the provincial government is underestimating and underforecasting the number of families leaving the GTA for other parts of Ontario, and why this will cause housing shortages to persist.
Read here: www.missingmiddleini...
Read here: www.missingmiddleini...
Every single day, I'm told that home prices have to stay high since seniors rely on that equity to fund their retirement.
The evidence that this is true, however, is remarkably thin. Yet it's something that's nearly universally treated as true.
The evidence that this is true, however, is remarkably thin. Yet it's something that's nearly universally treated as true.
November 1, 2025 at 12:52 PM
Every single day, I'm told that home prices have to stay high since seniors rely on that equity to fund their retirement.
The evidence that this is true, however, is remarkably thin. Yet it's something that's nearly universally treated as true.
The evidence that this is true, however, is remarkably thin. Yet it's something that's nearly universally treated as true.
Reposted by Dr. Mike P. Moffatt
OH FUCK GEDDY LEE IS WEARING AN EFFIN BIRDS SHIRT AT THE WORLD SERIES
November 1, 2025 at 12:33 AM
OH FUCK GEDDY LEE IS WEARING AN EFFIN BIRDS SHIRT AT THE WORLD SERIES
Reposted by Dr. Mike P. Moffatt
"If we don’t have a shared vision of what we want the housing system to look like, then we’re just going to get an incoherent mess of policies," - @mikepmoffatt.bsky.social
We know that building non-market #housing pulls people out of precarity, and we need a LOT more of it.
buff.ly/K7ckysj
We know that building non-market #housing pulls people out of precarity, and we need a LOT more of it.
buff.ly/K7ckysj
People. Policy. Politics.
The Hill Times is independently owned and based in Ottawa. Breaking exclusive stories and blazing trails every week, we're an influential must-read for the savvy political and government insider.
www.hilltimes.com
October 30, 2025 at 4:42 PM
"If we don’t have a shared vision of what we want the housing system to look like, then we’re just going to get an incoherent mess of policies," - @mikepmoffatt.bsky.social
We know that building non-market #housing pulls people out of precarity, and we need a LOT more of it.
buff.ly/K7ckysj
We know that building non-market #housing pulls people out of precarity, and we need a LOT more of it.
buff.ly/K7ckysj