Financial problems are nothing new. People tend to have very short memories but throughout most of human history there was no expectation that raising children required a certain standard of living. Additionally, most young adults are not managing their money wisely often spending it entirely on entertainment. Marriage is the start of curing that. There is a very long list of reasons that umarried teenagers should not have children and financial problems are not at the top of the list.
This is exactly right.
This is an interesting problem. Though not my focus here, it interests me greatly.
There is at least a grain of truth to the claim that reducing fertility improves standards of living.
On the other hand, people are an asset and depopulation is going to be very, very painful for everyone. Japan is leading this but everybody, from the first world to the third world, is following the same path.
It is interesting to speculate what it will take to change this. The culture that solves this will do well in a dying world.