Fascinating, and sad to see 74% of kids are on free or reduced lunches! I think the way we handled COVID is a strong sign that we prioritize the needs of the older (let’s say baby boomer generation) over the needs of the kids (currently gen Z and polars). I’m sure part of the phenomenon is that the years when to start a family (for women late twenties to early thirties) are the years where income is lowest. According to https://www.cbo.gov/publication/58533, “ The median wealth of older families was greater than that of families under age 50 over the entire 30-year period. Until 2010, the median wealth of the oldest group (age 65 or older) was less than that of the second-oldest group (ages 50 to 64). Since then, the oldest group’s median wealth has been the greatest.” so it sounds like the wealth gains are greatest in the boomers, and the later generations have had less wealth growth. If that is the case, as it seems to be from personal experience, these trends will only continue. Compared with my parents, housing is more expensive, retirement benefits are less generous, raising children is more expensive, and college is far less affordable so student debts will be higher. By the time my children would be old enough to to start families, if these trends continue, I suspect even fewer will be able to afford a comfortable family life - even if they get good jobs and wait until married to have children.
Fascinating, and sad to see 74% of kids are on free or reduced lunches! I think the way we handled COVID is a strong sign that we prioritize the needs of the older (let’s say baby boomer generation) over the needs of the kids (currently gen Z and polars). I’m sure part of the phenomenon is that the years when to start a family (for women late twenties to early thirties) are the years where income is lowest. According to https://www.cbo.gov/publication/58533, “ The median wealth of older families was greater than that of families under age 50 over the entire 30-year period. Until 2010, the median wealth of the oldest group (age 65 or older) was less than that of the second-oldest group (ages 50 to 64). Since then, the oldest group’s median wealth has been the greatest.” so it sounds like the wealth gains are greatest in the boomers, and the later generations have had less wealth growth. If that is the case, as it seems to be from personal experience, these trends will only continue. Compared with my parents, housing is more expensive, retirement benefits are less generous, raising children is more expensive, and college is far less affordable so student debts will be higher. By the time my children would be old enough to to start families, if these trends continue, I suspect even fewer will be able to afford a comfortable family life - even if they get good jobs and wait until married to have children.