Starting a family is not a priority for many of today's couples based on recent data published in USA Today by Demographic Intelligence, a Charlottesville, Va., company that produces quarterly birth forecasts for consumer products and pharmaceutical giants such as Pfizer and Procter & Gamble.
For many, buying a home and starting a family is atop a gleaming, shimmering hill of idealism, expectation, and perhaps even entitlement. Unfortunately, our current economic climate and real estate collapse the devastation it has caused so many provides a harsh reality check for many Americans, young and old, in regards to the dream many hope to live out.
Demographic Intelligence reported that the United States birth rate has dropped to an all-time low and that "the less-educated and Hispanics have experienced the biggest birthrate decline while the share of U.S. births to college-educated, non-Hispanic whites and Asian Americans has grown. What that tells you is that births have clearly been affected by the economy," says Sam Sturgeon, president of Demographic Intelligence. "And like any recession, it doesn't hit all people equally, and it hit some people much harder than others."
Analysts believe many are being cautious with their future plans because they are bogged down with student debt and because they cannot find suitable employment. "The more you delay it, the more you delay the possibility of a second or third child," says Stephanie Coontz, director of research and public education at the Council on Contemporary Families. "This is probably a long-term trend that is exacerbated by the recession but also by the general hollowing out of middle-class jobs. There's a growing sense that college is prohibitively expensive, and yet your kids can't make it without a college degree," so many women may decide to have just one child.
Credit restrictions are tighter than ever, as banks have learnt their painful lesson, but that has seriously impeded those who did have a plan to start a family.
For now, many seem interested in squaring up, taking a wait and see approach, biding their time for the right moment to buy a house (or buy again).
Michael Hobbs, SRA PahRoo Appraisal & Consultancy
Job Posting: Seeking two real estate appraisers for Chicago & Suburbs, salary and bonus available based on competency