The Missing Middle Podcast

Recently, Prime Minister Justin Trudeau commented that home prices couldn't drop because so many people rely on their home's value for their retirement. But could a prime minister stop a housing crash if he wanted to?

In this discussion, Mike and Cara discuss the idea of how much control the federal government has over home prices. They examine the impact of policies on affordability, and the challenges of balancing the interests of different stakeholders. It delves into the complexities of housing markets and the role of government in preventing price crashes and maintaining affordability.

More Reading:
https://www.theglobeandmail.com/business/article-trudeau-house-prices-affordability/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

In this conversation Smart Prosperity Institute economist Mike Moffatt and journalist Cara Stern talk to certified financial planner and founder of the New School of Finance Shannon Lee Simmons,  about saving for retirement.

Canada’s National Institute for Aging recently did a survey of 6,000 older Canadians to find out how they feel about the prospect of retirement. The results were definitive. Most survey respondents, all of whom are 50 or older, do not feel that they are financially secure enough to be able to retire when they want to. 44 percent of them had not put away any money for retirement in the last year and another 44 per cent of the 55-65 age cohort  had less than $5,000 in savings. 

Cara, Mike and Shannon dive into why that is, what role home ownership plays in saving for retirement.

More reading:

New School of Finance

Perspectives on Growing Older in Canada: The 2023 NIA Ageing
in Canada Survey

The Healthcare of Ontario Pension Plan (HOOPP) commissioned Abacus Data to conduct its fifth Canadian Retirement Survey in the spring of 2023.

An American perspective

Shannon Lee Simmons’ books

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

In this discussion, Smart Prosperity Institute economist Mike Moffatt and journalist Cara Stern read a viewer email from Atanas Georgiev of Niagara-on-the-Lake, Ontario, who is wondering about potential negative side effects of a deflationary housing market if there is a drastic increase in housing supply. They explore the definition of affordability and the various pathways to achieving it, including reducing expenses, lowering interest rates, and increasing wages. They also discuss the possibility of building more supply in walkable neighborhoods and the potential impact on home prices.

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

Housing starts in Canada are falling, particularly in Ontario, and the situation is even worse than predicted. The non-condo ownership market has seen a massive decline over the last 20 years, with high land prices and development charges making it unaffordable for buyers. Yet prices aren’t coming down. Mike Moffatt and Cara Stern discuss this challenge and its effect on getting supply in both the rental and ownership markets.

More reading:

We need more than big promises to solve our housing crisis

https://thehub.ca/2024-05-09/mike-moffatt-we-need-more-than-promises-to-solve-our-housing-crisis/?utm_medium=paid+social&utm_source=twitter&utm_campaign=boost

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

In this discussion, Smart Prosperity Institute economist Mike Moffatt and journalist Cara Stern are joined by tax lawyer Bhuvana Rai with Mors Tribute and estate lawyer Birute Luksenaite with Portfolio Estate Law. 

They talk about the  increase to the capital gains tax introduced by the government in the federal budget on April 16, 2024. They explain what capital gains are and how they are currently taxed. They also explore the arguments for and against the increase in the inclusion rate, including the potential impact on investment, fairness, and the ability of individuals to pass on assets to their children. 

The conversation highlights the complexity and competing opinions surrounding this tax policy change. The conversation explores the potential impact of the proposed changes to the capital gains tax in Canada. The guests discuss the challenges and concerns surrounding the new legislation, including the short timeline for implementation and the lack of opportunity for feedback. They also delve into the specific implications for different groups, such as doctors and small business owners, who may be disproportionately affected by the changes. 

Guests: Bhuvana Rai Tax Lawyer with Mors Tribute https://www.morstribute.ca/
Birute Luksenaite an Estate lawyer with Portfolio Estate Law https://portfoliolaw.ca/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

The federal government of Canada is exploring ways to help renters, such as through the introduction of a Renter’s Bill of Rights. This conversation examines the government’s promises, and covers what impact they might have on renters and rental prices. It explores how price transparency affects the rental market and whether the government is doing enough. The rental market in Ontario is broken, but what are the limitations of the federal government's jurisdiction? 

Technical Producer: Mike Greene https://instagram.com/mikegreenemedia

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

In this discussion, Mike and Cara are joined by the executive director of Canadians for Tax Fairness Katrina Miller to discuss the benefits of automatic tax filing and how it can save people money. The conversation explores the concept of automatic tax filing, the groups that would benefit from it, the current status of its implementation in Canada, and the opposition it faces from tax accountants and software firms. 

The conversation also touches on the potential implementation of automatic tax filing in Canada, citing examples from the UK and New Zealand. It concludes with a discussion on the likelihood of the system being implemented nationwide and the importance of raising awareness about its benefits.

Related links:

How the tax industry is keeping automatic filing out of reach:

https://canadiandimension.com/articles/view/how-the-tax-industry-is-keeping-automatic-filing-out-of-reach

Authored by https://twitter.com/ericashiner

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

In this discussion, Smart Prosperity Institute economist Mike Moffatt and journalist Cara Stern discuss the federal budget and its impact on housing. They cover new initiatives, such as opening up federal land for development and the deductibility of interest for tax reasons. They also discuss the government's commitment to building 2 million homes and the challenges of labor shortages and productivity in the housing sector. The hosts grade the government's success in addressing housing issues and discuss the change to the capital gains tax. They analyze the significance of the change and its impact on wealth inequality. Overall, they give the budget an A grade but note the lack of details and the need for more clarity on certain policies.

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

Guest:  Alex Beheshti, Senior Consultant with Altus Group Economic Consulting specializing in urban planning policy analysis, municipal fee reviews, and fiscal impacts of development.

In this conversation, Cara, Mike, and Alex discuss the latest housing bill from the Ontario PC government. They grade the bill and discuss its impact on housing supply and affordability. They also delve into the streamlining of third-party appeals, the exemption for universities from the Planning Act, the use it or lose it policy for subdivision and condominium approvals, and the potential for single staircases in multi-unit homes. The conversation highlights the lack of boldness in the bill and the Ontario Progressive Conservative government's shift in tone regarding housing supply.

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil

In this conversation, economist Mike Moffatt and journalist Cara Stern discuss the federal government's new plan to help first-time homebuyers by extending amortization periods on new homes. The conversation explores the reasons behind this decision and the potential impact on housing starts and prices, as well as why this is similar to a policy Mike and Cara suggested in an article in the Hub. The hosts also discuss the importance of helping the middle class achieve homeownership and the need for a balanced approach that addresses both demand and supply.

Read the article with their suggestions: https://thehub.ca/2024-03-19/mike-moffatt-and-cara-stern-the-dream-of-homeownership-is-dying/

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Edited by Sean Foreman and Canadian Civil