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by api
963 days ago
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Poorer places usually have lower costs for things like real estate and child care. Richer places tend to get “cost disease” especially in real estate. This in turn means that people have to have higher level careers and usually two earners in a home to afford the cost of living. Overall this all raises GDP but it results in an environment that is hostile to family formation. It could be a feedback loop too. Fewer kids might coincide with more career oriented lifestyles which drive higher earnings but also bid up real estate and other costs, and so on. |
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