The Research That Pulled Back the Curtain A joint study by Seung Hyeong Lee (Northwestern University) and Younggeun Yoo (University of Chicago), bluntly titled “Giving Up”, digs into how hopelessness in housing markets is reshaping the financial behaviors of young Americans. Their core finding? The dream of homeownership is fading—and it’s not just sad, it’s transformational. Born in the 1990s, the so-called “millennial” generation is projected to retire with a homeownership rate nearly 10 percentage points lower than their parents. That's not just a statistic. It's a cultural and economic fracture. When people believe they’ll never own property, their entire approach to money, work, and investing changes—and fast. Spending More, Saving Less, and Betting on Volatility The study shows that…
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