In this episode of the Missing Middle podcast, mortgage broker Ron Butler sits down with conservative pundit Sabrina Maddeaux and economist Mike Moffatt to discuss the current crisis in the Toronto condo market. Ron outlines the vast scope of the problem stemming from pre-construction purchases made during a speculative boom. He explains how investors are facing significant losses as property values decline, while also addressing the broader implications of poor development choices and the lack of low-rise housing options. The conversation explores the role of government in addressing these issues and the potential for positive change in the housing market.

Chapters

00:00 Introduction Ron Butler

01:06 Outlining the Toronto condo market crisis

04:07 How much of this story is a Toronto and Vancouver story?

05:22 Never go cash-flow negative?

07:01 How do we have a glut of condos during a housing shortage?

09:51 How condo developers contributed to the crash

12:13 Who is Most Affected by the Crisis?

14:00 Financing challenges and future outlook

15:33 The perfect storm - purpose-built rentals

17:18 Government subsidized rentals

18:13 The greenbelt and Downview Airport land

19:39 Is this the Toronto bubble burst? Is it The One?

20:23 Low-rise homes in Toronto - a brief history of artificial scarcity

23:05 What about family sized condos?

25:08 What’s the best non-terrible case scenario here?

27:32 The role of government in housing solutions

29:08 It wouldn’t be an MM podcast without Mike talking about development charges

30:25 Sabrina wants the government to get out of the way

Research and links:

The Angry Mortgage podcast

How low will rents go?

416 Condo Crash

Chart Storm: Five graphs on Toronto’s historic condo market collapse

Guest: Ron Butler, https://x.com/ronmortgageguy

https://www.butlermortgage.ca/

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, conservative pundit Sabrina Maddeaux and economist Mike Moffatt discuss the potential of factory built homes as a solution to the housing crisis. They explore the promises made by politicians regarding prefabricated housing, the spectrum of factory built homes, and the claims of reduced construction times, costs, and emissions. The conversation delves into the current challenges faced in North America, including regulatory barriers and municipal approvals.

Chapters

00:00 Introduction to Factory Built Homes (FBH)

01:34 Innovation in homebuilding

03:25 Understanding the spectrum of factory built homes

05:22 Claims of speed, cost, and emissions

07:45 Current challenges in North America

09:33 Where do the reductions in emissions come from?

10:18 Perceptions of FBH among younger generations

13:30 Regulatory barriers to adoption

15:41 Municipal approvals and their impact

17:40 Where would the election promise money go?

19:19 The potential benefits for traditional builders

20:12 Optimism for the future of FBH

Research/Links:

Scott Aitchison

Building More, Building Faster

Caivan

Why is it So Hard to Mass-Produce Housing?

Eight Pieces of Housing Advice to the Prime Minister

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, hosts Sabrina Maddeaux and Mike Moffatt discuss the impossible trinity that broke Canadian housing. They explore the implications of stagnant neighborhoods, population growth, and government policies that hinder housing affordability. The conversation delves into the complexities of urban planning, the impact of NIMBYism, and the need for realistic solutions to address the housing crisis.

Chapters

00:00 Introduction

01:06 Gregor Robertson’s rough start as Minister of Housing

03:51 Increased government housing would impact home prices

05:06 Understanding the Impossible Trinity that broke housing

07:37 Examples of cities doing two of three

10:03 Not allowed to grow up or out equals spiking prices

11:21 The illusion of legalized fourplexes

14:15 Ottawa’s zoning reform and stupid two-story height limit

17:33 Toronto’s wealthiest areas are the least dense

18:20 Proposed solutions for housing affordability

Research links:

The Impossible Trinity that Broke Canadian Housing

Can Homes Become Affordable Without Prices Going Down?

Toronto Star fourplex piece

How Community Consultation is Ruining Democracy

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.