<p>We are accustomed to the idea of growth. We love it when the wind is at our back and progress is effortless. We have experienced a lifetime of growth. If a growing market is an underlying assumption, then most people are unaware that they are operating with the assumption of growth. Growth becomes a law of nature, a little like gravity. </p><p>What would change in your strategy if you needed to win in a shrinking market? </p><p>Canada experienced the first major drop in population this past quarter. </p><p>Outside of a slight drop during the height of the pandemic, this quarter is the first time that Canada’s population has declined in at least the past eight decades. </p><p>The trend is not limited to Canada. The US administration has set much more stringent immigration policies over the past year. The policies continue to evolve with citizens from a total of 39 countries now barred from entering the US, even as visitors. This is largely a reaction to the near open-doors policy of the previous administration. </p><p>The US and Canada are not a strangers to shrinking population. Internal migration has caused population to shrink. The gains in the sunbelt have been at the expense of loss in the rust belt. </p><p>Detroit has lost more than 50% of its population since the 1970’s. </p><p>Cleveland has lost 60% of its population since the 1950’s. </p><p>Immigration is the pathway to maintaining population and to maintaining economic growth. I’m hopeful that these reductions are a short term reaction to periods of excessive growth and that both countries the US and Canada return to a more normalized immigration policy that recognizes the significant necessity and long term benefit that comes from a functioning immigration policy. </p><p>-----------</p><p><strong>Real Estate Espresso Podcast:</strong>  Spotify: <a href="https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1" target="_blank" rel="noreferrer">The Real Estate Espresso Podcast</a><br> Website: <a href="http://www.victorjm.com/" target="_blank" rel="noreferrer">www.victorjm.com</a><br> LinkedIn: <a href="http://www.linkedin.com/in/vmenasce" target="_blank" rel="noreferrer">Victor Menasce</a><br> YouTube: <a href="http://www.youtube.com/@victorjmenasce6734" target="_blank" rel="noreferrer">The Real Estate Espresso Podcast</a><br> Facebook: <a href="http://www.facebook.com/realestateespresso" target="_blank" rel="noreferrer">www.facebook.com/realestateespresso</a><br> Email: <a href="" rel="noreferrer">[email protected]</a></p><p><strong>Y Street Capital:</strong>  Website: <a href="http://www.ystreetcapital.com/" target="_blank" rel="noreferrer">www.ystreetcapital.com</a><br> Facebook: <a href="https://www.facebook.com/YStreetCapital" target="_blank" rel="noreferrer">www.facebook.com/YStreetCapital</a><br> Instagram: <a href="http://www.instagram.com/ystreetcapital" target="_blank" rel="noreferrer">@ystreetcapital</a><br></p>