Is Alberta Killing Its Housing Advantage? | Interview with Millennial Moron

Gift cards might feel like free money or a clever budget hack, but they are really interest-free loans to stores that make billions in profit when you forget to spend them.In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down whether holiday gift card deals and self-budgeting hacks actually save Canadians money or simply hand retailers interest-free loans, how corporate balance sheets turn billions in forgotten balances and "breakage" into pure profit, the mechanics of why the Starbucks app holds more customer deposits than a typical community bank, what happened when Hudson's Bay’s creditor protection left shoppers as empty-handed unsecured creditors, and why the behavioural psychology of "treat money," friction, and inflation makes holding onto gift cards a losing financial bet.Chapters:00:00 - Every Gift Card Is a Loan00:55 - How Much Canadians Spend on Gift Cards02:09 - Why People Buy Gift Cards for Themselves04:27 - Accounting 101: Your Gift Card Is the Store's Debt05:30 - Breakage: How Forgotten Balances Become Profit07:34 - The Bank of Starbucks11:37 - The $27 Billion Junk Drawer12:29 - Why We Don't Spend Our Gift Cards15:02 - Mall Cards, Visa Cards & Other Friction Traps16:51 - Gift Cards vs. Inflation17:54 - Are Gift Card Deals Actually a Good Deal?19:12 - Why Parking Money on a Card Costs You20:39 - Hudson's Bay: When Your Gift Card Becomes Worthless21:49 - What Protections Do Canadians Have?23:11 - Who Really Wins Gift Card SeasonLinks/Research:Retail Council of Canada Reports on Holiday Spending Canadians Keep Gift Spending Steady — and Push Deal-Hunting to New Heights - Retail Council of Canada Canada Gift Card Business Report 2026: An $11.18 Billion With Their Eyes on Affordability, Consumers Increasingly Gift Themselves, Blackhawk Finds – Digital Transactions Gift Cards and Mental Accounting: Green‐lighting Hedonic Spending - Helion - 2014 - Journal of Behavioral Decision Making - Wiley Online Library While Most (72%) Canadians Give and Receive Gift Cards Each Year, Many Are Tossing Away Cash by Not Using Card's Full Value | Ipsos https://sherwood.news/business/starbucks-could-use-a-cio-to-invest-the-usd2-2b-float-from-its-rewards/ https://thedailyeconomy.org/article/your-starbucks-balance-is-working-harder-than-you-think/ https://www.bankrate.com/f/102997/x/c53caa68d4/gift-card-survey-press-release.pdf Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

Are property tax deferral programs really helping struggling seniors, or are they subsidizing wealthy homeowners at everyone else's expense?In this episode of DemograFix, Cara Stern and Mike Moffatt unpack the hidden costs of senior property tax deferrals and why these well-intentioned programs may be making housing affordability worse for younger generations.They explore how property tax breaks can become low-interest loans for multimillion-dollar homeowners, why some of the seniors most vulnerable to poverty don't qualify for these benefits, and how taxpayers end up footing the bill through higher property taxes and reduced municipal services.They also dig into British Columbia's controversial program, where homeowners with multimillion-dollar properties could defer their entire property tax bill at heavily discounted interest rates, effectively turning a senior benefit into an investment opportunity for the wealthy.So who really benefits from these programs? And why are governments subsidizing homeowners to stay in expensive family-sized houses while young families struggle to find homes they can afford?Chapters:00:00 - The Boomer Tax Break Bankrolled by Young Renters01:45 - "House Rich, Cash Poor" is Just an Excuse03:59 - The Hidden Incoherence Killing Family Neighborhoods06:19 - B.C.’s Multi-Millionaire Tax Deferral Loophole08:49 - Reverse Robin Hood: The Big Wealth Transfer11:56 - Why Politicians Are Terrified to Fix This14:13 - Real Solutions vs. The Downsizing Trap18:50 - How to Expose the True Cost to VotersResearch/links:How B.C.'s property tax system delivers big benefits to multimillionaires, and why some say it needs to changeHow a Tax Break for Struggling Seniors Became a Billionaire SubsidyLow income statistics by age, gender and economic family typeUnderused Ontario schools could be sold by Ford government for housing in new education billCredits:Mike Moffatt https://twitter.com/MikePMoffatthttps://bsky.app/profile/mikepmoffatt.bsky.socialCara Stern https://x.com/carasternhttps://bsky.app/profile/carastern.bsky.socialMeredith Martin https://twitter.com/meredithmartinhttps://bsky.app/profile/meredithmartin.bsky.socialSean Foreman@seanegertonforemanhttps://bsky.app/profile/seanforeman.bsky.socialCanadian Civilyoutube.com/CanadianCivilUniversity Of Ottawa Co-op StudentFrancis Gabriel Carmona, https://www.linkedin.com/in/francisgabrielcarmona/Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

Can Alberta keep its title as Canada's housing affordability champion, or is it about to become its own worst enemy?In this episode of Classonomics, Mike Moffatt and Millennial Moron dig into Alberta's growing housing battles. Why is Danielle Smith stepping in to overrule municipal zoning decisions in Calgary and Edmonton? How did the humble eightplex become a controversial, compromise-filled housing option? And why can it take years of red tape, parking rules and neighbourhood opposition to get new homes built?From the politics of infill to the hidden costs of endless approval delays, we explore what's standing in the way of more housing, and whether Alberta is putting its biggest affordability advantage at riskIs Alberta showing the rest of Canada how to build more homes, or how to get in its own way?Chapters:00:00 - Alberta's Housing Model Under Pressure03:36 - Construction Timelines: Alberta vs. Ontario06:29 - Why Edmonton’s Infill Reforms Sparked Provincial Pushback09:14 - The Flawed Design of Modern Multiplexes11:43 - The Political Contradictions of Housing Deregulation14:41 - Neighborhood Pushback & The Myth of Suburb Capacity20:04 - Immigration, Housing Crises & Federal CMHC Loans23:28 - Calgary’s Office-to-Residential Conversion Playbook26:43 - How to Fix Community Engagement for Better Housing31:07 - Danielle Smith and the Battle Over Parking Minimums33:38 - Presumptive Upzoning: A Market-Based Solution36:40 - Canadian Real Estate Listings vs. European Castles40:35 - An Applied Math Approach to the Housing Bubble Research:2025 Provincial HOMES Report Cardhttps://www.missingmiddleinitiative.ca/p/2025-provincial-homes-report-cardMillennial Moronhttps://www.youtube.com/@MillennialMoronHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

Why is housing so expensive? Parking might be part of the answer.In this episode of DemograFix, Cara Stern talks to Henry Grabar, author of Paved Paradise: How Parking Explains the World, about how parking minimums, parking costs and car dependency have shaped our cities and made housing more expensive.We discuss why developers build so much parking, how parking requirements can delay or block new housing, what happens when cities eliminate parking minimums, and whether making parking harder is actually a good way to get people out of their cars.Plus: why are there at least three parking spaces for every car in America?Pick up Henry's book, Paved Paradise: How Parking Explains the World, wherever you get your books.#Parking #Housing #urbanplanning Chapters:00:00 Parking vs. Housing: The Real Cost01:28 The "Free Parking" Fallacy03:18 Ridiculous Zoning Laws05:15 How Parking Drives Up Your Rent07:58 Why SimCity Left Out Parking11:09 Why NIMBYs Fight New Housing15:33 Why Carrots Don't Work on Drivers18:33 The Dark Side of Parking Fines20:29 How Parking Kills Small Towns24:43 Why American Cities Look EmptyResearch/links:Paved Paradisehttp://www.penguinrandomhouse.ca/books/634461/paved-paradise-by-henry-grabar/9781984881151Henry Grabarhttps://www.henrygrabar.com/Not-So-Free Parkinghttps://www.harvardmagazine.com/2023/08/paved-paradise-grabarAmerica, Land of the Free Parkinghttps://www.nytimes.com/2023/05/10/books/review/paved-paradise-henry-grabar.htmlThe Edmonton Exceptionhttps://2067journal.ca/the-edmonton-exception/Credits:Mike Moffatt https://twitter.com/MikePMoffatthttps://bsky.app/profile/mikepmoffatt.bsky.socialCara Stern https://x.com/carasternhttps://bsky.app/profile/carastern.bsky.socialMeredith Martin https://twitter.com/meredithmartinhttps://bsky.app/profile/meredithmartin.bsky.socialSean Foreman@seanegertonforemanhttps://bsky.app/profile/seanforeman.bsky.socialCanadian Civilyoutube.com/CanadianCivilCo-op StudentFrancis Gabriel CarmonaHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

In this episode of Classonomix, Sabrina Maddeaux and Mike Moffatt break down what actually makes a home “family-friendly,” and what a survey of 4,000 Canadians reveals about whether townhomes, strawberry-box bungalows, and apartment towers are truly fit for raising kids. They unpack the developmental science behind childhood outcomes, introduce the “kitchen window test” for fostering independent play, and explain why the family-friendly courtyard apartments popular across Europe remain effectively illegal to build under Canadian zoning and building codes.Chapters:00:00 The Great Family Exodus00:58 Defining Family Friendly Homes05:15 Rating Canadian Homes: Suburbs to Condos10:05 The Low-Rise vs. High-Rise Trap for Kids14:38 What Science Says About Raising Kids in Suburbs18:05 Why Public Parks Fail Young Families19:23 The "Kitchen Window Test"20:15 The European Courtyard Alternative22:41 Why It’s So Hard to Build Family HousingResearch:Social housing: A key part of past and future housing policyhttps://www.oecd.org/content/dam/oecd/en/publications/reports/2020/10/social-housing-a-key-part-of-past-and-future-housing-policy_ef96d6d9/5b54f96b-en.pdfHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

How did hundreds of millions of dollars in Ontario student aid end up at the centre of a major funding scandal, and why did it take so long for the government to act?In this episode of DemograFix, Cara Stern sits down with Alex Usher, president of Higher Education Strategy Associates and author of the annual State of Post-Secondary Education in Canada report, to investigate the OSAP funding scandal and the Ontario Provincial Police’s criminal probe into alleged fraud at private career colleges.They unpack how Ontario’s student aid system went wrong, what the investigation means for students and taxpayers, and what this scandal reveals about the flaws in Canada’s post-secondary funding system. They also explore the growing generational divide: why Gen Z is facing more debt, fewer opportunities, and a tougher path to financial security than previous generations.Subscribe for more conversations about Canada’s economy, demographics, and the policies shaping our future.Chapters:00:00 – "I Did Everything Right" (Why Gen Z is Struggling)01:51 – What is a Career College?02:38 – The $1 Billion OSAP Fraud Scandal Exposed05:13 – Why Ontario Cut Student Grants Instead of Stopping Fraud06:25 – Hundreds of Colleges Are About to Go Under10:32 – Cover-ups, Lawsuits & Freedom of Information11:05 – Is a College Degree Still Worth It in 2026?12:16 – The Truth About "Credential Inflation"14:51 – Do We Really Need 4-Year Degrees Anymore?18:47 – Net-Zero Tuition: How Student Aid Actually WorksResearch:The Contemptible OSAP Cover-Uphttps://higheredstrategy.com/the-contemptible-osap-cover-up/How Doug Ford’s OSAP changes are forcing Ontario students to make a choice: Go deep into debt or drop outhttps://www.thestar.com/news/ontario/how-doug-fords-osap-changes-are-forcing-ontario-students-to-make-a-choice-go-deep-into-debt-or-drop-out/article_3cdce5f9-fec7-4faf-95f9-a79592f487a0.htmlCourt records show Ontario's 'serious concerns' about three career collegeshttps://www.thetrillium.ca/news/education-and-training/court-records-show-ontarios-serious-concerns-about-three-career-colleges-12851478This Ontario career college has suspended classes. Here’s whyhttps://www.cp24.com/politics/queens-park/2026/10/18/this-ontario-career-college-has-suspended-classes-heres-why/$385M in OSAP grants sent to students at 7 career colleges last year, documents showhttps://www.ctvnews.ca/canada/article/385m-in-osap-grants-sent-to-students-at-7-career-colleges-last-year-documents-show/The State of Post-Secondary Education in Canada, 2026https://higheredstrategy.com/the-state-of-post-secondary-education-in-canada-2026/Credits:Cara Stern https://x.com/carasternhttps://bsky.app/profile/carastern.bsky.socialMeredith Martin https://twitter.com/meredithmartinhttps://bsky.app/profile/meredithmartin.bsky.socialPaige Saundershttps://site.canadiancivil.com/profiles/Sean Foreman@seanegertonforemanhttps://bsky.app/profile/seanforeman.bsky.socialMike Moffatt https://twitter.com/MikePMoffatthttps://bsky.app/profile/mikepmoffatt.bsky.socialUniversity Of Ottawa Co-op StudentFrancis Gabriel CarmonaBrought to you by the Missing Middle Initiative https://www.missingmiddleinitiative.ca/Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

Why is it getting so hard to afford a night out? From $200 dinners and sky-high concert tickets to the disappearance of cheap bowling alleys and dinner parties, having fun is becoming a luxury. In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down how soaring housing costs, stagnant wage growth and rising entertainment prices are changing the way we socialize. As affordable third spaces disappear and young Canadians spend more time alone, are we facing a loneliness crisis fuelled by the cost of living? And what happens when we can no longer afford the everyday experiences that bring us together?Chapters:00:00 - Why Having Fun Got So Expensive00:49 - The Data Behind the Loneliness Epidemic03:10 - Rent, Wages & Skyrocketing Ticket Prices07:16 - Splurge Culture: Concerts vs. Real Life10:34 - What Happened to Cheap Hangout Spots?13:55 - How the Housing Crisis Killed Dinner Parties22:15 - The Rise of the "Alone Economy"25:17 - The Hidden Cost of Living AloneResearch:NetNewsLedger - Funflation is raising concert, sports and streaming costs for Canadians:https://www.netnewsledger.com/2026/07/16/funflation-is-raising-concert-sports-and-streaming-costs-for-canadians/Bloomberg Opinion (Allison Schrager) - Why Bowl Together When You Can Scroll Alone? (Lucky Strike, league decline, third places):https://www.bloomberg.com/opinion/articles/2026-10-04/why-bowl-together-when-you-can-scroll-aloneThe Atlantic (Derek Thompson) - Why Americans Stopped Throwing Dinner Parties (42% to 12% hosting monthly):https://www.theatlantic.com/ideas/2026/10/americans-socialization-dinner-decline-hosting/688846/Pollstar - 2025 Year-End Business Analysis (average ticket $96.17 in 2019, $132.62 in 2025; stadium average $216.13, up 18.3%):https://news.pollstar.com/?p=1214179City of Toronto staff report (July 2026) - grassroots music venues: ~5% own their buildings, ~30 lost 2014 to pandemic, 50% property tax cut:https://www.toronto.ca/legdocs/mmis/2026/ec/bgrd/backgroundfile-289602.pdfStatistics Canada - Survey of Household Spending, 2023 (recreation $5,231; one-person households and shelter share):https://www150.statcan.gc.ca/n1/daily-quotidien/250521/dq250521a-eng.htmStatistics Canada - Time pressure and time spent with friends over the last 30 years:https://www150.statcan.gc.ca/n1/daily-quotidien/250617/dq250617d-eng.htmCanadian Press - Canadians spending less time with friends:https://www.ctvnews.ca/lifestyle/article/canadians-spending-less-time-with-friends-especially-those-of-working-age-statcan/Statistics Canada - Canadian Social Survey: Loneliness in Canada (2021):https://www150.statcan.gc.ca/n1/daily-quotidien/211124/dq211124e-eng.htmhttps://asiatimes.com/2026/09/asias-lonely-economy-of-one/Statistics Canada - Loneliness as a Quality of Life Framework indicator:https://www160.statcan.gc.ca/society-societe/loneliness-solitude-eng.htmHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

With election day approaching across Ontario, are mayoral candidates offering real solutions to the housing crisis, or just slogans?Cara Stern and Mike Moffatt examine housing platforms from candidates in nine Ontario cities to see which proposals could actually make homes more affordable for middle-class families, renters, and first-time homebuyers.They break down the policies that could make a difference, the promises that need more scrutiny, and the municipal decisions that are shaping the future of housing in Ontario.In this episode:What's missing from candidates' housing plans? Why concrete targets, timelines, and realistic funding matter.Mississauga's property tax proposal: Would allowing seniors to defer property taxes help homeowners, or create new costs for taxpayers?Toronto's land transfer tax: Could cutting the tax help families move into homes that better suit their needs, and how would the city replace the lost revenue?Windsor's fourplex debate: What happens when municipal leaders oppose policies that could allow more homes to be built?Oshawa and Guelph's housing plans: Can faster approvals, lower development charges, and more flexible zoning improve affordability?The case for family-sized homes: Why building more housing means more than hitting unit targets, and why young families need more options.What good housing policy looks like: Mike shares the municipal reforms he would prioritize, from streamlining approvals to making starter homes cheaper to build.The big question: Can good housing policy win elections, and are municipal politicians willing to make the changes needed to help the next generation afford a home?Chapters:00:00 - Introduction: Analyzing Ontario’s Municipal Housing Platforms00:50 - What to Look For in a Middle-Class Housing Plan02:23 - Initial Reactions & "Where’s the Beef?"03:04 - Property Tax Deferrals for Seniors: Good or Bad Policy?06:30 - Land Transfer Taxes: Removing Barriers to Moving08:46 - Strong Mayor Powers & The Fourplex Veto Debate10:34 - Development Charges & Streamlining Approvals in Oshawa12:31 - Density on Arterials vs. Neighbourhood Infill14:59 - The Student Housing Crisis in Southwestern Ontario16:35 - Core Principles for a Real Municipal Housing Vision18:50 - Key Policies: Form-Based Zoning, AI Approvals, & Tax Reform21:37 - Does Good Housing Policy Actually Win Elections?Research/links:https://www.thestar.com/real-estate/why-toronto-s-next-council-could-be-decided-by-renters/article_24997d4c-28a5-4250-ab38-e5c7203c8252.htmlhttps://www.alvintedjo.ca/affordabilityhttps://chewforguelph.ca/priorities/https://bradford26.ca/news/brad-bradford-toronto-mayor-will-eliminate-torontos-land-transfer-tax-for-the-average-homebuyerhttps://www.ctvnews.ca/windsor/article/dilkens-vows-to-use-strong-mayor-powers-to-block-fourplex-changes-if-re-elected-francis-calls-it-fear-mongering/#:~:text=Dilkens%20vows%20to%20use%20strong%20mayor%20powers,Dilkens%20(right).%20(%20Sanjay%20Maru%2FCTV%20News%20Windsor)Credits:Mike Moffatt https://twitter.com/MikePMoffatthttps://bsky.app/profile/mikepmoffatt.bsky.socialCara Stern https://x.com/carasternhttps://bsky.app/profile/carastern.bsky.socialMeredith Martin https://twitter.com/meredithmartinhttps://bsky.app/profile/meredithmartin.bsky.socialSean Foreman@seanegertonforemanhttps://bsky.app/profile/seanforeman.bsky.socialCanadian Civilyoutube.com/CanadianCivilCo-op StudentFrancis Gabriel CarmonaHosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down why political promises to give "more money to seniors" actually enrich Canada's wealthiest demographic, the myth that retirees "paid into" Old Age Security, how brutal child benefit clawbacks contrast with generous senior write-offs, and how taking money from young workers is quietly hurting the economy. Chapters:00:00:00 The Problem with “More Money for Seniors”00:02:53 How OAS Works & Why Income Thresholds Matter 00:04:36 The Conservative Payout Plan00:05:41 Seniors vs. Struggling Young Families00:08:32 Generational Theft & Economic Drag00:10:03 Why Politicians Pandering to Boomers Always Win00:13:23 We’ll Be $3 Trillion in Debt and Still Giving Discretionary Handouts00:14:37 Stop Giving Wealthy Retirees WelfareRESEARCH LINKS:Sabrina Maddeaux column (National Post) — https://nationalpost.com/opinion/sabrina-maddeaux-conservatives-lose-the-plot-with-pitch-for-higher-old-age-securityOld Age Security — overview, amounts, and clawback thresholds (Government of Canada):https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security.htmlCanada Child Benefit — income thresholds and calculation:https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview.htmlParliamentary Budget Officer — fiscal analysis of seniors benefits and OAS projections:https://www.pbo-dpb.caGeneration Squeeze — generational fairness and intergenerational transfers:https://www.gensqueeze.caNet wealth data: https://www150.statcan.gc.ca/n1/daily-quotidien/241029/t001a-eng.htm Poverty data: https://www.statcan.gc.ca/en/topics-start/poverty Parliamentary Budget Office costing: https://www.pbo-dpb.ca/en/epc-estimates--estimations-cpe/45/EL-45-1031563-P Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil

In this episode of Classonomics, Sabrina Maddeaux and Mike Moffatt break down whether creating brand-new cities can actually solve Canada’s housing affordability crisis, how our metropolitan numbers compare globally, the failed history of planned-city experiments like Ontario's Townsend and Australia's Monarto, and why central planning can't replace the organic economic realities that make cities thrive.Chapters:00:00 Why Doesn’t Canada Build New Cities? 01:23 Canada Is Already Creating New Cities 03:10 Why Smaller Canadian Cities Are Growing Faster 04:37 Does Canada Actually Need More Cities? 09:20 Why Canada’s New City Plans Keep Failing 14:20 Can the Free Market Create New Cities? 16:20 Why Moving People Won’t Solve the Housing CrisisResearch:UK New towns: https://en.wikipedia.org/wiki/New_towns_in_the_United_KingdomTownsend:https://haldimandpress.com/townsend-the-metropolitan-city-that-never-was/Monarto:https://en.wikipedia.org/wiki/Monarto,_South_AustraliaCredits:Mike Moffatt https://twitter.com/MikePMoffatthttps://bsky.app/profile/mikepmoffatt.bsky.socialSabrina Maddeaux https://x.com/SabrinaMaddeauxMeredith Martin https://twitter.com/meredithmartinhttps://bsky.app/profile/meredithmartin.bsky.socialSean Foreman@seanegertonforemanhttps://bsky.app/profile/seanforeman.bsky.socialCara Stern https://x.com/carasternhttps://bsky.app/profile/carastern.bsky.socialUniversity Of Ottawa Co-op StudentFrancis Gabriel CarmonaFunded by the Neptis Foundation https://neptis.org/Brought to you by the Missing Middle Initiative https://www.missingmiddleinitiative.ca/Hosted by Mike Moffatt & Cara Stern & Sabrina MaddeauxProduced by Meredith MartinEdited by Sean Foreman and Canadian Civil