Study: discouraged renters spend more, work less, and take riskier investments, weakening long-run financial stability.
Hopeful renters cut consumption, exert higher labor effort, and invest cautiously to build wealth for a home.
Projected homeowners: 74.2% of 2010 cohort vs 83.8% of 1970 cohort; mortgage rates and prices strained access.
Around 15% of 2010 cohort gave up by age 30; forecast nearly all stay discouraged into their 40s.
Crypto: renters and homeowners >$300,000 invest equally; below $300,000 renters more, but reverses below $50,000.
