Every bit of data seems to show that the wealthier we get, the fewer babies we have.
https://www.statista.com/statistics/1328574/fertility-rate-w...
1.7 isn't replacement but it's not national extinction. There's a cultural element here besides pure economics.
I was just being snippy at the parent comment giving the really tired complaint that it's all about not having enough money (obviously false).
Wage growth compared to cost of living has been flat to negative for decades. Outlook for the future is low. Of course people aren't having kids.