Do you actually own the things you pay for anymore?

In this episode of the Missing Middle Podcast, economist Mike Moffatt and Cara Stern explore how ownership is quietly disappearing from everyday life—and what that means for consumers, younger generations, and the economy as a whole.

From streaming services and digital books to video games, cars, exercise bikes, and even housing, more and more products are shifting from one-time purchases to subscription-based access. While these models offer convenience and regular updates, they also raise serious concerns about control, pricing, and long-term access.

Mike and Cara examine the “illusion of ownership” and more about “constrained optimization,” where economic circumstances make traditional ownership nearly impossible for younger generations. Questioning if we are being pushed into a future where the top 0.001% owns all assets while the middle class is permanently transformed into a generation of renters. Mike and Cara break down the policy choices required to reclaim property rights and protect the Canadian dream of actually owning the things you pay for.

Is society moving toward a future where access replaces ownership? And what do we give up when that happens?

👇 Share your thoughts in the comments:
Are subscriptions worth the convenience, or are we losing something more important?

📩 Questions or feedback? Email us at missingmiddlepodcast@gmail.com

Chapters:

00:00 Introduction

00:56 What was the best year for music ever?

02:13 The loss of physical media

03:30 Millennials and the benefits of digital

05:37 The illusion of digital ownership and revoked access

06:40 Digital subscription models

10:10 Rentier capitalism

12:35 The benefits and downsides of subscription

14:04 Two schools of thought on ownership

15:30 Constrained optimization in housing and cars

18:07 The future of ownership and rentier capitalism

19:26 You'll own nothing and be happy

20:47 A way out: The right to repair

Research/links:

https://blog.roonlabs.com/44-days-in-91/

Welcome to 2030. I own nothing, have no privacy, and life has never been better

Welcome to 2030. I own nothing, have no privacy, and life has never been better | by World Economic Forum | World Economic Forum | Medium

https://medium.com/world-economic-forum/welcome-to-2030-i-own-nothing-have-no-privacy-and-life-has-never-been-better-ee2eed62f710

You'll own nothing and be happy

https://en.wikipedia.org/wiki/You%27ll_own_nothing_and_be_happy

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.

From breath mints and car break-ins to bouncers at the Rogers store, urban life is starting to feel a lot more “on alert.” In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux examine the rise of crime and disorder in our cities, as well as the disturbing data behind transit violence. However, this isn’t just about safety; it’s about the future of our neighbourhoods. If people don’t feel safe on the streetcar or the sidewalk, can we ever truly build the dense, walkable, “missing middle” communities Canada so desperately needs?

This surge in disorder acts as a "hidden tax" on urban living, forcing residents to choose between the convenience of the city and the perceived security of the suburbs. By analyzing these shifts, we uncover how a lack of safety might be the biggest hurdle yet to solving our housing goals.

Chapters:

00:00 Introduction: Crime, Disorder, and the Future of Cities

00:50 Car Break-ins and Security Measures

04:23 Personal Experiences on the Streetcar

05:02 By the Numbers: Rising Assaults on Canadian Transit

07:07 Why Density Requires Public Trust

09:00 Why Spouting Stats Doesn't Change Minds

13:58 The Political Disconnect on Urban Safety

16:49 Finding Solutions: Justice Reform and Mental Health

18:10 Why "visible progress" matters more than spreadsheets

Research links:

Transit violence rising across Canada — in some cities by nearly 300%

Chris Arnande tweet

The Slow-Motion Exodus: How GTA Outmigration Became Ontario’s Defining Trend

The Politics of Safety: Why Bail Reform Is Striking a Chord with Canadians

Sabrina Maddeaux: Canada’s suburban crime surge is exposing years of national security neglect

It's Time to Talk About America's Disorder Problem

Related reading/listening:

OFF THE RAILS: Data exposes crime, mental illness at TTC’s track level

More than 70 per cent of Ontarians feel less safe on transit than a year ago, survey suggests

Homelessness, Social Disorder and Public Transit in Calgary, Canada: Examining perspectives from law enforcement through the lens of critical social theory

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.

From avocado toast jokes to accusations of entitlement, every generation seems to get its turn in the stereotype spotlight. In this episode of The Missing Middle, economist Mike Moffatt and journalist Cara Stern dig into where these labels come from — and, more importantly, whether generations really do experience the economy differently.

They explore how major historical shocks — from the Great Depression and World War II to 9/11, the Great Recession, and the pandemic — shape our values, anxieties, and opportunities. The conversation moves beyond clichés to examine how birth year, cohort size, housing markets, job markets, technology, and public policy combine to create very different economic realities for Boomers, Gen X, Millennials, and Gen Z.

Chapters:

00:00 Introduction

00:37 Avocado toast & generational stereotypes

03:25 Horriscopes for statistical nerds?

04:46 The history of grouping people into generations

06:41 Mike’s genX and Cara’s millennial experiences

13:24 Understanding generational differences

15:55 Generation size, power & public Policy

19:40 Inherited wealth & pulling the ladder up

22:30 The ethos of DemograFix

Research/links:

https://marcuse.faculty.history.ucsb.edu/classes/201/articles/27MannheimGenerations.pdf

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.

Ontario’s Greenbelt is often treated as untouchable — but is it actually making the housing crisis worse?In this episode of The Missing Middle, Mike Moffatt and Sabrina Maddeaux tackle the question viewers keep asking: can Ontario build enough family-friendly homes without touching the Greenbelt — and what happens if it doesn’t? They unpack how the Greenbelt was sold as a social contract, why governments never delivered the missing middle housing they promised, and how policies meant to stop sprawl may have actually pushed families farther away.

The conversation breaks down four realistic paths forward: doing nothing, finally legalizing family-sized infill housing, cutting immigration to ease demand, or partially opening the Greenbelt — and why every option is politically fraught. Along the way, they explain leapfrog sprawl, why condos aren’t working for families, and how decades of policy avoidance have left young Canadians priced out and disillusioned.

If you care about housing affordability, family-friendly neighborhoods, or the future of Ontario’s cities, this episode lays out the uncomfortable trade-offs politicians keep avoiding.

Chapters:

00:00 – Introduction

00:47 – The Most Common Audience Question

01:50 – Is the Greenbelt Politically Untouchable Now?

05:23 – The Greenbelt’s Broken Social Contract

10:05 – What Families Actually Need in a Home

11:35 – How the Greenbelt Makes Sprawl Worse

14:00 – Has Anyone Studied Greenbelt Sprawl?

15:00 – Four Options for Housing vs the Greenbelt

15:53 - Option 1: Do Nothing

18:31 – Option 2: Fix Housing Without Expansion

23:48 – Option 3: Cutting Immigration

27:15 – Option 4: Opening the Greenbelt

29:55 – What’s Most Likely to Happen Next?

Research/links:

Mike’s tweet

https://x.com/MikePMoffatt/status/1991593178085142851?s=20

London’s Garden Belt:

https://x.com/JenMTreadwell/status/2001256081188905271?s=20

The Welfare Effects of Greenbelt Policy: Evidence from England

https://academic.oup.com/ej/article/134/657/363/7276598

Green Belts: Past; present; future?

https://www.routledge.com/Green-Belts-Past-present-future/Sturzaker-Mell/p/book/9781138339392

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 special Ask Me Anything episode of The Missing Middle, the full team answers your biggest viewer questions on housing, transit, immigration, and affordability — and we share a major announcement about the future of the podcast. We also introduce our newest team member and talk candidly about why this work hits close to home for so many Canadians.

The conversation dives into walkable neighbourhoods and small businesses, why governments struggle to act on housing affordability, the taboo around discussing immigration and housing together, transit as a pressure valve for urban sprawl, and why seniors are stuck in family-sized homes. Plus, we explain what’s changing on the show, including two new weekly episodes, DemograFix and Classonomics, and what it means for listeners going forward.

Chapters

00:00 Ask Me Anything 2025 and look ahead

00:45 Meet our editor/technical producer Sean Foreman

03:01 Introducing the new podcast DemograFix

03:52 Introducing Classonomics

04:16 You don’t need to do anything, we promise 🙂

05:01 Meredith’s take on the future of Missing Middle podcasts

07:29 Question from Matthieu Gagnon about walkability

09:56 Rahim Ismail’s Question about the government being out of touch

12:34 Examining the intentionality of the government's lack of response

15:36 Chosing one stakeholder over another

16:46 Vanessa MacDonald’s question about talking about immigration policy

20:49 Daniel D'Angela’s question about good transit

22:57 Seniors downsizing and banning all foreign ownership

Research/links:

Can Tax Reform Help Young People Afford Homes?

https://youtu.be/rW9QZ91lF9k?si=lep3WbEYfmZATaUQ

2025 Provincial HOMES Report Card

https://www.missingmiddleinitiative.ca/p/2025-provincial-homes-report-card

The Positive Utility of the Commute: Modeling Ideal Commute Time and Relative Desired Commute Amount

https://www.researchgate.net/publication/263313349_The_Positive_Utility_of_the_Commute_Modeling_Ideal_Commute_Time_and_Relative_Desired_Commute_Amount

Measuring the Local Economic Impacts of Replacing On-Street Parking With Bike Lanes

https://www.tandfonline.com/doi/full/10.1080/01944363.2019.1638816

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.

Is Canada’s life sciences and health tech sector heading toward a code red? In this episode, Sabrina Maddeaux and Mike Moffatt unpack how outdated and fragmented privacy laws are slowing innovation, and why aligning too closely with European regulations could make things even worse. They explore the “Brussels effect,” where the EU’s regulatory power shapes rules far beyond Europe, and how Canada may already be feeling its impact.

The conversation dives into why modern health innovation depends on large-scale data, how Canada’s patchwork of federal and provincial rules creates costly barriers, and what lessons we could learn from countries like Japan and Singapore instead.

Chapters:

00:00 Introduction

00:44 The Brussels Effect explained

03:17 Outdated health-data and privacy rules

04:13 Accessing lifescience data

06:00 Safety vs innovation

07:40 Europe lacks tech innovation

08:55 We’re already adopting EU rules

09:28 Asia leads the way in healthtech data regulation

Research:

Health Innovation Doesn’t Have to Be This Hard

https://www.missingmiddleinitiative.ca/p/health-innovation-doesnt-have-to?utm_campaign=post&utm_medium=web

The Draghi report on EU competitiveness

https://commission.europa.eu/topics/competitiveness/draghi-report_en

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, hosts Cara Stern and Mike Moffatt break down his latest “home score” report, grading every Canadian province on housing. Atlantic provinces like New Brunswick and P.E.I. lead the way, while Ontario struggles, with high costs forcing young people to stay home longer and many residents moving away. The grades are based on 36 indicators covering supply, affordability, suitability, and societal outcomes.

Mike also explores housing policies that help, harm, or have little impact, from inclusionary zoning to development charges. The episode highlights how some reforms succeed, others fail, and why provinces can learn from each other. Tune in to see which policies actually work and what it will take to improve housing across Canada.

Chapters:

00:00 Introduction to the Provincial HOMES Report Card

00:45 The best and worst provinces at housing performance

02:20 36 assessment points

03:39 The report methodology

05:17 Avoiding harmful and irrelevant policies

06:24 Provinces that have irrelevant policies perform worse

09:40 Inclusionary zoning

12:30 Examining the number of adult children living at home

13:56 Ways in which Ontario sucks at housing

15:20 Political will(not to build housing in Ontario)

17:58 The levels of government can learn from each other

19:03 We were hoping BC would have better results

19:28 Atlantic Canada doesn’t get in it’s own way

21:51 How can the provinces improve?

Research/links:

2025 Provincial HOMES Report Card

https://open.substack.com/pub/missingmiddleinitiative/p/2025-provincial-homes-report-card?utm_campaign=post-expanded-share&utm_medium=post%20viewer

Modeling Inclusionary Zoning’s Impact on Housing Production in Los Angeles: Tradeoffs and Policy Implications

Inclusionary-Zoning-Paper-April-2024-Final.pdf

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 Podcast, Sabrina Maddeaux and Mike Moffatt break down a major shift in Canada’s income trends: men over retirement age are now earning more than men aged 25–34. They explain how seniors’ incomes have increased through pensions, investments, and government supports, while younger workers face slow wage growth, higher living costs, and inflation.

The discussion explores key issues affecting younger generations in Canada, including housing affordability, childcare costs, wage stagnation, and intergenerational inequality. Sabrina and Mike talk about why young men are struggling in today’s economy, what this means for Canada’s workforce, and how policy changes could help.

Chapters:

00:00 Introduction

00:42 New report shows young men earn less than senior men

02:00 Senior men incomes have doubled since 1970s

02:24 Young men’s incomes are down since the 1970s

03:21 Where is the extra senior income coming from?

05:53 The role of government transfers and entitlements

07:30 Breaking down younger men’s incomes

09:44 Housing have increased far faster than inflation since 1977

11:11 Why have wages gone down for young men?

13:31 social taboos around talking about young men

17:09 Concluding thoughts

Research Links:

What Happened to the Young Middle-Class Man?

https://substack.com/home/post/p-181132084?source=queue

How Do Young Men See the World? We Asked Them.

https://www.esquire.com/news-politics/a63613007/young-men-america-2025/

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.