Economists have watched the American birth rate plummet and wondered exactly what caused it. We’ve heard back about childcare costs, shifting cultural norms, lack of suitable partners, and even student debt. To be fair, the problem of birth rates well below the 2.1 children per woman replacement level is shared by virtually all developed nations.
Now, a new study cuts through the noise. It turns out that soaring home prices, and specifically the premium on extra bedrooms, act as the ultimate birth control.
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