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“There’s now less incentive to get a larger mortgage because you can’t deduct it," says Ryan Raveis. "For younger generations particularly, who are typically loaded down with student debt and are living at home, home ownership of their own – which has always been seen as a way of building equity – is getting harder to come by.”
“Wealthier folks are leaving the state, and those who are replacing them don’t have the same level of income," Ryan Raveis Inc. said.