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Increase In Home Prices Lead To A Decline In Births

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Being a parent alone is a difficult job and with the rising cost of living including housing, the more reasons would-be parents are reassessing their financial situations before growing their family.

A recent report by real estate website, Zillow indicated an increase of 10% in home values relative to the 1.5% decrease in birth rates among women between 25-29.

This was notably observed in Los Angeles County, where rising home values prompted 2,588 fewer babies born to women in this age group in 2016 than would have other been expected.

Outside of California, other cities like Chicago, Seattle, Austin and New York are also showing a huge decline in birth rates in respect to rising home values.

Zillow senior financial expert Aaron Terrazas said that the information adds another layer to the contention that rising housing costs are adding to significant deferrals in accomplishing various key life milestones, including getting married and buying a first home.

Several elements could be prompting millennial women to postpone or to forego having kids. However, the drop in birth rates could likewise be demonstrative of the fact that fewer Americans opt to have children in preparation to a coming recession.

And in some cities, rising home costs didn’t prompt a lower fertility rate among women ages 25 to 29. In Omaha, Neb., and Provo, Utah, for instance, the birth rate rose between 2010 and 2016 despite home values climbing roughly 10%.

Source: MarketWatch

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About The Author
Sanjeev Advani

• Hundreds of Investment Real Estate transactions successfully closed • 350+ Units currently under Property Management • 3+ Years of Construction Management Experience • Certified Property Manager, CCIM (In Progress) • Bachelors in Finance • Bakersfield, CA Native Deep Dive: I have been licensed in real estate for almost 10 years, and I have been specializing in investment and commercial real estate for the past 6 years. Through the years I have worked with Real Estate Developers, Investors, Average Joes, and many more. I am a Bakersfield native, and my educational background is in Finance. I have just completed the CPM (Certified Property Manager) certification which is one of the most prestigious designations in the Property Management Industry, with less than 1800 members world wide. I am also the President of the Board for Habitat for Humanity Golden Empire, the Vice President of the Board for Income Property Association of Kern County (IPAK), and Vice Chair of the Commercial Investment committee at the Board of Realtors. I look forward to working with you towards your real estate investment goals. Sunny Advani California Agent Lic# 01869863 | California Broker Lic# 02012941 Email: Sunny@RE-Synergy.com | Phone: +1 661 235 5726