Prime Minister Mark Carney said he wanted apartments to be more affordable for Canadians.
It will not be easy: Real estate prices all over Canada fell by two percent by the previous year by May, but there should be much larger declines to make the apartment affordable for many people.
In this episode we speak to Mike Moffatt, founding director of the missing middle initiative at the University of Ottawa and co-moderator of the Podcast on Housing, The Missing Middle.
The name, the lack of medium references to many things-the decline in the young urban middle class, the polarization of our politics and also the missing center of the housing construction-we have huge condominiums, middle houses and houses, but not enough of the multiunit residential complexes that are in the middle.
Moffatt explains his theory why real estate prices have increased, how the politics of recent decades have brought us to where we are today, and his view of what has to happen to bring real estate prices back to earth.
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• e -Mail: gfriedman@postmedia.com | Twitter: Gabefriedz