[Aeolos]

Precisely this.

The incentives to have children are being removed one by one, it's becoming impossible to find affordable housing & education unless you are born rich, the social fiber is being eroded more and more with every passing year so the 0.1% can become even more filthy rich.

Add to that the younger generations being keenly aware of the deteriorating environment due to global warming (which older generations are happy to ignore), and is there really any wonder why birth rates are down across the board?