Thirty-year amortizations available on insured mortgages for all first-time home buyers may also impact the luxury market. “Longer amortization periods mean lower monthly payments, making high-priced properties more feasible for first-time buyers. This may increase demand in the luxury market, as more buyers can finance homes that were previously out of reach,” Hitt says. “It also intends to create more demand for new builds. Much of this demand was lost when foreign buyers were banned.”