Fewer people are having kids, and those who do are paying a higher price

Your Professor has been telling you things like this for years. From marketwatch.com:

Couples thinking about starting a family might want to boost their saving goals. The cost of raising a child from birth to age 17 is higher than the price of the average American home: Middle-income parents spend over $241,000 to raise a child, according to a study released last month by the U.S. Department of Agriculture’s Center for Nutrition Policy and Promotion. The median price of a home, in contrast, currently stands at $203,500. And statistics show that, unsurprisingly, the more a family earns, the more they spend on their kids.

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Thanks to listener Kevin Lorentzen.