They can't afford kids because of a totally different reason. The poorest countries have the highest fertility rates. The richest ones the lowest. Yes housing

They can't afford kids because of a totally different reason. The poorest countries have the highest fertility rates. The richest ones the lowest. Yes housing is proportionally higher but home ownership is pretty much constant https://fred.stlouisfed.org/series/RHORUSQ156N https://fred.stlouisfed.org/series/RHORUSQ156N Crucially the cost of everything else has come down dramatically to balance for rise in home prices. > I'm in the top 10% earners, so is my wife, I can't afford a flat that would be big enough for 2 kids. This is true but this is not because CEO wages are rising but despite it. IMO this is happening because people moved to the cities and enough houses were not built in time (you try to answer the question as to why). Your grandfather probably lived in a rural part of the country and could afford a big house where there was no demand - something you can still do now. There is another reason housing prices have also gone up which is not talked about often - while prices of other things reduced people had more to spend on other things. They chose to put remaining on housing because.. well where else would you put it?