Dr. Mike P. Moffatt

Great to see our new report on GTA and Greater Golden Horseshoe housing starts and sales get mentioned several times in Question Period today. We won't solve the housing crisis until we acknowledge the depth of the problem.

See the report here: www.missingmiddleini...

A question I get asked a lot is, "will the increase in purpose-built rental starts offset the decline in condo starts"?

A: In some places, possibly, but our new report shows that, say, the City of Toronto, we're not seeing an offset.

Read more here: www.missingmiddleini...

New report! Our Q3 GTA and Greater Golden Horseshoe report is out, and it's bleak. Pre-construction apartment sales down 89%, ground-oriented pre-sales down 65%, guaranteeing an even deeper downturn in 2026 and beyond.

Read here: www.missingmiddleini...

The league was talking about a $1M expansion fee, so I'm guessing he based it off of that.

If you're struggling to figure out what to get me for Xmas, let me help you out. I've always wanted to own a baseball team. And one just came up for sale... it's only $750,000!

www.guelphtoday.com/...

A heads-up for everyone: We'll be releasing our next GTA and Greater Golden Horseshoe housing report card on Monday morning. It should turn some heads.

Here's our previous one, in case you missed it: www.missingmiddleini...

So, I repeat, what positive outcomes are these communities seeing?

And guess what? Core housing need is *up* in those communities since then.

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...

And what positive outcomes are those communities seeing?

I’ve studied housing for over 15 years. These Canadian towns are showing us how to fix the crisis We need a variety of approaches to our inescapable housing problem.

Baffling. Doucet says we need a human rights approach to housing. I 100% agree.

Canada's KPI for that is core housing need.

Doucet cites Whistler, Burnaby, and New West as positive examples - places with core housing need 2x the Canadian average. Huh?

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...

Nope - the highest they hit was ~14% in the early 80s.

Canada has *never* had a year in its history when social housing accounted for 15% of that year's completions.

Now, 14% is bigger than 0%, but relative to European standards, we've never been a country that built much.

Almost all of it is still standing today.

The problem is, that very little of it was built, even back then.

Given how inexpensive middle-class housing was in most of the country in the late 1990s and early 2000s, I'm not sure the timing fits well.

And if you don't think developers were profit-motivated in the 1960s and 70s, you may want to talk to a tradesperson from the era.

Details on Canada's new housing agency add clarity, expose 'troubling limitations': Expert Ottawa's Build Canada Homes has rolled out its investment framework — and a leading housing policy expert says the plan leaves key gaps.

Yahoo Finance Canada on last weekend's Build Canada Homes release.

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...

New piece coming out tomorrow at 7:45am - look for it in your inbox!

Housing starts set to hit 30-year low for Canadian homeowners as rentals hit record high in 2025: CMHC New rental units are more than doubling new houses being built in Canada

We're quoted in this piece over at The Hub - Housing starts set to hit 30-year low for Canadian homeowners as rentals hit record high in 2025: CMHC

Read here:

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...

Ford says HST break should apply to ‘anyone who buys a new home’ Proponents say expanding the HST exemption, currently limited to first-time homebuyers on new home up to $1 million, could help the struggling industry.

I'm quoted in today's Toronto Star, on the merits of a full HST rebate on newly constructed homes.

Read here:

Correct, yes

Canada has a new plan for governing stablecoins and open banking - The Logic The new law “expands the system tremendously,” says Canada’s former open banking czar

The federal government has introduced their new stablecoin rules in the budget implementation bill. Looks pretty aligned with the EU implementation, including the ban on paying interest/incentives.

Why is Mark Carney taking a page from Nigel Farage? - Loonie Politics The most important warning sign of all is the fact that this is ceding the rhetorical ground to the fascists and the far-right.

New column from me at Loonie Politics: Why is Mark Carney taking a page from Nigel Farage? #cdnpoli
(Big h/t to @mikepmoffatt.bsky.social)

What are you proposing as a solution?

What's the alternative?

Citation needed.