There are multiple levels of European integration [1]. Fun fact: Canada already borders the EU. There's an island called Saint Pierre and Miquelon, which is only ~12 miles from Newfoundland. These islands became a massive smuggling hub for alcohol during Prohibition.
Here are some guiding principles of EU integration:
1. To have a say in EU rules generally requires being a full member. To some extent you can negotiate your entry into whatever level you desire but this has to be mutual agreement and can be difficult to change later without essentially threatening to leave;
2. Conditions generally need to be reciprocal. If you want freedom of movement in the EU then you have freedom of movement from other European states. This was a real sticking point in the Brexit negotiations and the EU doesn't play with reciprocal freedoms; and
3. Any sort of free trade with the EU will mean adopting EU regulations to be within the EU customs union. I don't see this flying with Canada because despite current trade hostilities with the US, the US is and will remain the primary trading partner of Canada. Adopting EU regulations might make US trade more difficult;
Also, the US might have legitimate cause to object. If Canada and US have free trade and Canada and the EU has free trade then that's opting the US into EU regulation essentially.
In some ways this is similar to the strained situation invented for Northern Ireland.
Obviously, Canada won't be joining Schengen or the Euro. Canada already has visa-free travel to the EU.
Canada still has a housing crisis and increased migration from the EU is likely a political non-starter even though those things aren't really related and literally nobody is going to tackle the true cause of the housing crisis (just like in every developed country). As an aside, the true cause is hoarding combined with tax advantages and a political goal of raising house prices.
In short, I don't know that this means anything because I don't think anything can substantively change with the Canada-EU relationship.
[1]: https://www.reddit.com/r/europe/comments/1qbq43v/european_in...