If "will never purchase their own home" was a reason to not have kids, many more people in previous generations would've been childless.

What has changed is expectations. The room I rented in my final year of university, and that was only 20 years ago, would (I think) no longer be legal: too poorly insulated. Very cheap though, I think it was £40 a week? Even after adjusting that for inflation since then, that was cheap. But it's (I think?) no longer possible.

Expectations for things that can be bought have gone up faster than our ability to buy them. We didn't used to all expect to be able to fly somewhere on holiday. We didn't used to all expect to have a phone — and I don't just mean a smartphone, or even a mobile phone, my first partner was a bit older than me, born in the 70s, their family didn't have a landline. All the streaming services are expensive, I grew up with 4 free-to-air channels and no internet (not even a dialup modem) let alone broadband that you need to stream video, no cable TV or satellite TV. Smart bulbs for mood lighting can quickly become expensive, I grew up in an upper middle class house and yet it had one, singular, dimming switch for the incandescent bulb it took. A microwave was a fancy accessory, not standard, when I was a kid. It all adds up.

Also, our expectations for relationships have gone up faster than humans could ever change, as our expectations follow not reality but rather perception. Sure, the perception was already off when I was young, we had unrealistic body goals in high-gloss magazines and Hollywood glamour and unrealistic romances in stories and unrealistic sex in porn, but even with that the quantity one could consume was relatively limited… and now we have the highest-rated content from our always-on social media accounts, A/B tested to be more appealing than reality, and even when it isn't AI-enhanced or photoshopped, it's still the final cut to the cutting room floor of having to deal with flawed real people.