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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.”
New York Bankers Association President Michael Smith talks about the trouble with Washington lawmakers who can’t find common ground over economic issues, and why the changes that have been made give many in the industry reason to be cautiously optimistic.