Younger generations are making riskier investments and spending more recklessly as they give up on the American dream of owning a home, a new study suggests.The research from Northwestern University's Seung Hyeong Lee and the University of Chicago's Younggeun Yoo published in their study entitled "Giving Up": The Impact of Decreasing Housing Affordability on Consumption, Work Effort, and Investment," showed the sharp decline in housing affordability in recent decades. The duo developed a model that suggests that the cohort born in the 1990s will reach retirement with a homeownership rate rough...

6 days ago

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