If you like babies, you should care about how much housing costs
The people of South Korea are expected to have fewer children than ever before, reports Bloomberg News. One reason is that young South Koreans say they can’t afford to get married or get pregnant.
And one reason for that is… housing costs! Here’s Bloomberg’s break-down:
Record-low interest rates meant to spur economic growth have fueled a property boom that has priced many of them out of the market. Meanwhile, the unemployment rate among those 15 to 29 years old is 9.2 percent—more than double the national average.
Back in the United States, interest rates are low here too, which is pushing housing sales. And here in Denver, some expect the younger generation to be priced out of the market in five years.
At least in Colorado, hiring has been fairly robust, so we have that going for us. But housing costs are having impacts on the Front Range already: Seniors are already feeling the pinch, so watch out, babies.