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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Kids and cost of living are too expensive if you have a job in a top 15 metro area. About 100m Americans live in the top 15 metro areas, or about 30% of the country.

At current interest rates, a 31 year-old Millennial couple (peak baby birthing time) need a household income of $250K to buy a decent home an acceptable school district, two cars, daycare, student loan payment, retirement contribution, plus weekly expenses (food, diapers, medical costs, utilities, etc.) AND not feel completely on edge of losing it.

At a $250K HHI, you're already at the 92nd percentile of American households. But 30% of Americans live in a top 15 metro area and are dealing with a huge run up in RE prices and now interest rates.

How is a 31 year-old Millennial couple supposed to buy their first home and have a baby? It's literally not possible unless they are pulling in $250K or have family $$$$.

The math doesn't math. I'd skip kids too. We got lucky in that we are elder Millennials who bought in 2017.

We make $500K today and there's no way we could afford our current house at the current prices and interest rate without a lot of pain and skimpy budgets by the end of the month.[/quote]
Meh, I think the anxiety of this upcoming generation is really strong and leads to the idea that they need everything in its place. It's just not reasonable. Probably access to too much information has led to this.

You don't need to own a home at 31. Used cars work great. I think people' priorities are a bit focused on things rather than family. And thats ok; it's just different.

But you can raise kids just fine on 100-150k starting out while you work towards making that 250k HHI.

[/quote]

Sorry, but you SHOULD have settled housing when you start a family. That means housing you will be able to afford for the next 5-7 years while you are in the toughest early years for child rearing. Moving homes or living at the whim of a landlord is incredibly difficult when you have young kids. I know people do it....but it's not how most Americans envision starting a family.

People who actively plan for children want a stable home and job situation. The current economic environment is way too unstable, hence why you see the drop in fertility.

Older Americans have no one to blame but themselves for this predicament. They have been in power and setting economic policies for the last 3-4 decades. This is not a country that values the things that matter to families - affordable safe housing, decent public schools, affordable childcare, and a robust healthcare safety net.

The message projected to young Americans is "why should we pay for your kid?".....then don't expect them to have kids. The social contract in the U.S. is broken. [/quote]
Nah. People can and do rent and raise kids everywhere, and all the time. Public schools aren't a concern for a few years while you continue to work your way. Unemployment in this country has been and will continue to be extremely low. In any metro, two people can find jobs making 50-70k pretty regularly, many not even requiring a college degree.

I think many of you have been sold a bill of goods on what it takes to start a family. Its hard work for sure, but its not a logistics issue or a money issue. The key is two loving parents working together. [/quote]

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