According to Telegraph https://www.telegraph.co.uk/business/2025/01/28/how-soaring-housing-costs-crushed-birth-rate/#:~:text=Between%202010%20and%202022%2C%20the,a%20uniquely%20terrible%20housing%20market high house prices explain falling birth rate. I usually disbelief what I read in the paper but there is some evidence of a correlation. But this would suggest it’s cyclical — spanning a century or more — but a cycle nonetheless.
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