Canada’s decision to allow first-time buyers to take out mortgages with 30-year amortization periods on new builds will only affect “a sliver” of the country’s highly priced housing market, according to analysts.
“It’s not a needle-mover; it’s not a game-changer,” Ryan Berlin, senior economist at Vancouver-based real estate firm Rennie, said in a phone interview. “The first-time home buyer segment of the market is really small, and then the presale — the new-home segment of the market — is also small.”