Baby, Baby

New research shows that a 10% rise in house prices leads to a 1% decrease in births among non-homeowners, who must now save more and do so by delaying having kids. However, this negative effect is more than offset by a 4.5% increase in births among homeowners, who are now wealthier and thus have kids sooner or more of them. The renter effect is least pronounced for childless couples.

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