Comment by triceratops

I suspect that home prices and ownership rates don't explain birth rates. Who says you can't rent and have children? A large part of the world already does it.

Birth rates go down with economic development, and the growth of freedoms and opportunities for women. It's a tale seen everywhere. And all the other fun stuff and distractions available for young people today - dating apps, video games, pop culture, avocado toast, too many hobbies to name - competes with child-rearing for time, attention, and money. Even as a parent, I sometimes long for a more carefree life. I'm sure a lot of people see their peers with children and decide, rationally, to not pursue parenthood.

(This is without even getting into the climate crisis).