Toronto’s housing market is in free fall — new condo sales have plunged 97% since 2021, costing governments $6.6 billion in lost tax revenue every year. In this episode, Sabrina Maddeaux and Mike Moffatt break down shocking new data on record-low home sales, how this impacts construction jobs, and why the crisis could get worse before it gets better. They explain how cutting taxes like the GST could revive housing starts without sacrificing affordability, and debate whether foreign buyers and international students should play a role in the market recovery. Don’t miss this deep dive into the numbers and policy ideas that could reshape Canada’s housing future.

Chapters

00:00 Introduction

01:39 Understanding the GTA housing market crash

02:28 Video Link - Where Did All the Jobs Go?

03:01 Governments could lose $6.6 Billion

06:20 Bad housing starts numbers explained

08:42 Contraction in the construction industry means 41000 jobs lost

10:40 How cutting the GST on new homes makes sense

14:00 We need high home construction and affordability

15:09 Foreign Investment and housing supply

16:40 Conclusion and future considerations

Research:

Toronto’s Housing Collapse Will Cost Governments $6.6 Billion a Year

Where DID All the Jobs Go? The Mystery of Rising Unemployment

Altus group reports:

https://www.bildgta.ca/wp-content/uploads/2025/06/6.18.25-Job-Risk-Housing-Pipeline-GTA-Altus-Group.pdf

https://www.bildgta.ca/wp-content/uploads/2025/06/Altus-Data-Solutions-media-backgrounder_May-2025.pdf

Toronto New Home Sales Fall To Record Low, Just 42 Condos Sold In The City

The Next Shoe to Drop

How Vaughan is Cutting Housing Costs | The Agenda

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.

In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt are joined by urban planner Alex Beheshti for a deep dive into one of the most overlooked barriers to solving Canada’s housing crisis: zoning data. Alex makes the case for a Canadian Zoning Atlas—an ambitious but essential tool to bring clarity, consistency, and transparency to the country’s fragmented planning systems. They explore why zoning laws are so confusing, how the lack of machine-readable data cripples good policy, and what Canada can learn from international best practices. If we can map census data, why not zoning? From obscure codes to wedding vows about development charges (really!) this is a conversation about why better data might just be the key to better housing.

Chapters

00:00 Introduction

01:00 Canada needs a housing crisis map

01:29 Alex shares his wedding vows

02:48 Previous Alex B episode

02:53 Mike’s philosophy of experimentation and failure

04:05 Understanding zoning: definitions and complexities

07:01 The need for centralized zoning data

09:19 The massive gap in urban planning data

10:30 Envisioning a Canadian zoning atlas

12:16 Canada should emulate the US and Australia

13:49 Future planning tools for Canada

Research/links:

Canada’s Housing Crisis Needs a Map

Guest: Alex Beheshti https://twitter.com/beheshtialex

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.

Why aren’t we seeing more multiplexes in Canadian cities—even after zoning reforms? In this episode of The Missing Middle, Sabrina Maddeaux and Mike Moffatt dig into the surprising roadblocks holding back infill housing. From bizarre bedroom caps to height limits that make 10-plexes impossible, they unpack how cities say "yes" to housing... and then quietly say "no." They call out the red tape, NIMBY politics, and why it might be time for provinces to take the wheel. If you're wondering why the housing crisis isn’t getting better, this one’s for you. (Full disclosure: This episode was recorded on Friday June 18th, before the Toronto city council watered down sixplex legalization, but the conversation remains entirely relevant.)

Chapters

00:00 Introduction

01:51 Push-back to multi-unit buildings

03:46 Bedroom limits

06:07 Ron Butler episode

06:34 The rooming-house factor

08:14 Height restrictions and Ottawa story

10:40 Restrictions make good architecture difficult

12:13 Infil is always harder so restrictions make that even worse

14:02 Solutions

research/links:

Edmonton Zoning Bylaw Renewal

City staff recommend permitting sixplexes in residential areas

City staff recommend allowing sixplexes across all Toronto neighbourhoods

Reddit discussion on the above 👆

Toronto city council waters down proposed sixplex legalization, limiting changes to certain neighbourhoods

Toronto wrangles with a simple question: What is a multiplex?

We recommend you read the City Hall Watcher Substack by Matt Elliott

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.