Part 5/11:
Australia is also grappling with declining birth rates, which recent statistics show have dropped to historic lows—1.5 children per woman, according to recent data. This trend is not unique to Australia; countries like Japan, South Korea, and the United States face similar challenges, often attributed to economic factors, housing affordability, and changing cultural attitudes toward family life.
Elon Musk has spoken openly about the need to address declining birthrates, warning of the potential demographic and economic consequences. In Australia, the high cost of living, housing affordability crises, and shifting cultural values surrounding family and parenthood are significant barriers to having more children.