That's not the pyramid I mean. It's too expensive to have kids because housing (and to a significant but much lesser extent fuel) prices are out of control.
The infinite growth pyramid that's the problem is that banks, governments and pensions all rely on real estate doubling in value every 10 years. They have for decades but we're at a point now where people can't even afford rents in some places. The Welltodos in their 50s and 60s have hoovered up a large bank of properties in the past few recessions with a view they can sit back and make their 8%.
It can't carry on. This euphemism, "global fertility" is the side effect that our economics is utterly unsustainable. And no, I don't have a solution.
The infinite growth pyramid that's the problem is that banks, governments and pensions all rely on real estate doubling in value every 10 years. They have for decades but we're at a point now where people can't even afford rents in some places. The Welltodos in their 50s and 60s have hoovered up a large bank of properties in the past few recessions with a view they can sit back and make their 8%.
It can't carry on. This euphemism, "global fertility" is the side effect that our economics is utterly unsustainable. And no, I don't have a solution.