Jack Jedwab

And that works both ways to some extent, but I'd say much more so on the Canadian side, moving to the U.S.

than the U.S.

side, moving to Canada.

I'm not getting that impression, although if you look at survey data, young people today seem more inclined than previously to be interested in living somewhere else.

So that's true both in the United States and in Canada.

But again, we get into this whole issue about intentions and what people say in surveys and then the actual move and what that entails.

You are seeing more of this transnational phenomenon.

It's hard to really capture how significant it is, but it could be a growing phenomenon amongst younger people where they're able to work remotely

you know, able to live in sort of two places at the same time, you know, three places if you consider some of them living in cyberspace.

I think migration is – well, we were up to record levels of immigration in Canada until end of year 2024 when our government announced a 25% cutback on permanent residents, on massive cuts in study permit.

significant cuts in temporary workers.

We're seeing a lot of pushback on migration.

And the U.S.

is seeing a lot of pushback and actually not only pushback on immigration, but actually trying to send a lot of people back to the countries they came from as well.

So a rollback almost.

So there's a lot of, if you like, a lot of rules that are being put out there to make it more challenging for people to come from various parts of the world.

It has a chilling effect.

Yeah, exactly.

And it's not only about economic opportunity and housing, which is a massive problem in both Canada and in many American cities, which is also a potential obstacle to migration because you've got to figure out where you're going to live.

But there's also global instability that people are really nervous about.