More Wives Now Outearn Their Husbands. They Also Stay Together Longer.
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,613,207 (-0.60%)       Melbourne $969,484 (-0.54%)       Brisbane $991,125 (-0.15%)       Adelaide $906,278 (+1.12%)       Perth $892,773 (+0.03%)       Hobart $726,294 (-0.04%)       Darwin $657,141 (-1.18%)       Canberra $1,003,818 (-0.83%)       National $1,045,092 (-0.37%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $754,460 (+0.43%)       Melbourne $495,941 (+0.11%)       Brisbane $587,365 (+0.63%)       Adelaide $442,425 (-2.43%)       Perth $461,417 (+0.53%)       Hobart $511,031 (+0.36%)       Darwin $373,250 (+2.98%)       Canberra $492,184 (-1.10%)       National $537,029 (+0.15%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 9,787 (-116)       Melbourne 14,236 (+55)       Brisbane 8,139 (+64)       Adelaide 2,166 (-18)       Perth 5,782 (+59)       Hobart 1,221 (+5)       Darwin 279 (+4)       Canberra 924 (+36)       National 42,534 (+89)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,638 (-81)       Melbourne 8,327 (-30)       Brisbane 1,728 (-19)       Adelaide 415 (+10)       Perth 1,444 (+2)       Hobart 201 (-10)       Darwin 392 (-7)       Canberra 1,004 (-14)       National 22,149 (-149)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $820 (+$20)       Melbourne $620 ($0)       Brisbane $630 (-$5)       Adelaide $615 (+$5)       Perth $675 ($0)       Hobart $560 (+$10)       Darwin $700 ($0)       Canberra $680 ($0)       National $670 (+$4)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $590 (-$5)       Brisbane $630 (+$5)       Adelaide $505 (-$5)       Perth $620 (-$10)       Hobart $460 (-$10)       Darwin $580 (+$20)       Canberra $550 ($0)       National $597 (-$)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,197 (+313)       Melbourne 6,580 (-5)       Brisbane 4,403 (-85)       Adelaide 1,545 (-44)       Perth 2,951 (+71)       Hobart 398 (-13)       Darwin 97 (+4)       Canberra 643 (+11)       National 22,814 (+252)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,884 (-22)       Melbourne 6,312 (0)       Brisbane 2,285 (-54)       Adelaide 357 (-14)       Perth 783 (-14)       Hobart 129 (-14)       Darwin 132 (+6)       Canberra 831 (+15)       National 21,713 (-97)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.64% (↑)      Melbourne 3.33% (↑)        Brisbane 3.31% (↓)       Adelaide 3.53% (↓)       Perth 3.93% (↓)     Hobart 4.01% (↑)      Darwin 5.54% (↑)      Canberra 3.52% (↑)      National 3.34% (↑)             UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.17% (↓)       Melbourne 6.19% (↓)     Brisbane 5.58% (↑)      Adelaide 5.94% (↑)        Perth 6.99% (↓)       Hobart 4.68% (↓)     Darwin 8.08% (↑)      Canberra 5.81% (↑)        National 5.78% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.8% (↑)      Melbourne 0.7% (↑)      Brisbane 0.7% (↑)      Adelaide 0.4% (↑)      Perth 0.4% (↑)      Hobart 0.9% (↑)      Darwin 0.8% (↑)      Canberra 1.0% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.1% (↑)      Brisbane 1.0% (↑)      Adelaide 0.5% (↑)      Perth 0.5% (↑)      Hobart 1.4% (↑)      Darwin 1.7% (↑)      Canberra 1.4% (↑)      National 1.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 29.8 (↓)     Melbourne 31.7 (↑)      Brisbane 30.6 (↑)        Adelaide 25.2 (↓)       Perth 35.2 (↓)     Hobart 35.1 (↑)      Darwin 44.2 (↑)        Canberra 31.5 (↓)     National 32.9 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 29.7 (↓)       Melbourne 30.5 (↓)     Brisbane 27.8 (↑)        Adelaide 22.8 (↓)     Perth 38.4 (↑)        Hobart 37.5 (↓)       Darwin 37.3 (↓)       Canberra 40.5 (↓)       National 33.1 (↓)           
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More Wives Now Outearn Their Husbands. They Also Stay Together Longer.

The share of marriages with women breadwinners tripled over the last 50 years

By JULIA CARPENTER
Fri, May 12, 2023 8:29amGrey Clock 3 min

Marriages in which wives outearn their husbands are not only more common, but less likely to end in divorce than in the past.

Couples married in the late 1960s and 1970s were 70% more likely to divorce when wives earned the same or slightly more than their husbands compared with couples where the husband earned more, according to research from Christine Schwartz and Pilar Gonalons-Pons, sociologists at the University of Wisconsin-Madison and the University of Pennsylvania, respectively. For couples married in the 1990s, however, the divorce rate for those with female breadwinners had fallen to 4% higher than male breadwinners.

The reasons these marriages are succeeding seem to be cultural as well as economic, Prof. Schwartz said. Growth in women’s educational and career trajectories has removed some of the stigma of lower incomes for husbands. And the higher cost of building a life together has made it a necessity for more couples to maximise their two incomes.

Sarah O’Brien, a 35-year-old archivist in Palm Desert, Calif., overtook her husband in earnings five years ago. The couple first met climbing the ranks of the public library world together, but she worried he would be uneasy about what her higher income would mean for his role in the household.

When they sat down to have the conversation, Ms. O’Brien said her husband, David Murguia, a 36-year-old circulation manager, told her that he was proud of her.

“I don’t have the ego of ‘I need to earn more money,’” Mr. Murguia said. “More money for her is more money for us, and more money for me is more money for us.”

Ms. O’Brien and Mr. Murguia are one of many more egalitarian marriages. The share of women outearning their husbands has tripled over the last 50 years, from 5% to 16% of all opposite-sex marriages, according to data from Pew Research Center.

Men used to worry that having a more financially successful wife could be detrimental to their own careers, said Johanna Rickne, professor of economics at the Swedish Institute for Social Research at Stockholm University. Women in the upper echelons of their professions were more likely to be divorced than women in less prestigious positions and were far less likely to be married at all.

“It’s changing, and now there is progress in the sensitivity to women’s economic empowerment within relationships,” Prof. Rickne said.

When Sally Mellinger, a 38-year-old director of content strategy in South Bend, Ind., first moved in with her fiancé, she said they both talked about their experiences as breadwinners: Ms. Mellinger as the wife outearning the husband in her first marriage and her fiancé, Luis Beltran, as the sole breadwinner in his own previous relationship.

Nearly three years later, Ms. Mellinger brings in nearly triple in salary what Mr. Beltran makes as the owner of his own barber shop. But she said talking about what their combined incomes can do for their shared future isn’t a loaded conversation but instead a hopeful one.

“When I was previously married, I was the major breadwinner and everything was on me,” Mr. Beltran said. “I see her as my equal, and I feel like at this point, because she is a boss, I admire that and I see a future.”

Despite the shifting viewpoints on female breadwinners, there remains a gender pay gap. As of 2022, women earned an average 82% of what men earned, according to a Pew Research Center analysis.

Over the same period, the overall divorce rate has declined, according to the Centers for Disease Control and Prevention, and younger couples are entering first marriages at later ages.

Relying on a single breadwinner to bring home all the bacon is no longer a sustainable model for many couples, especially those raising children, said Jennifer Glass, professor of liberal arts and executive director for the Council on Contemporary Families at the University of Texas at Austin. The median cost of keeping an infant in daycare ranges from $8,000 a year in more rural areas to nearly $17,000 in major cities.

“The traditional family structure leaves you poor today,” Prof. Glass said.

Farnoosh Torabi, who hosts a personal finance podcast, said she’s spoken with couples who say they need two incomes to protect their household against a possible recession, the next round of layoffs or any other unforeseen challenges.

In her own marriage, Ms. Torabi said she had been primed to defend her newfound breadwinning status when she overtook her husband in earnings before they were married. But instead, the two celebrated her success—and the financial freedom it afforded them both. The conventional wisdom was no longer true, she said.

“I was told that would be a turnoff: Don’t tell guys you have ambitions because they’re not going to feel like they can take care of you,” she said.



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Australia’s weak economy causing ‘baby recession’ not seen since the 1970s

Continued stagflation and cost of living pressures are causing couples to think twice about starting a family, new data has revealed, with long term impacts expected

By Bronwyn Allen
Fri, Jul 26, 2024 2 min

Australia is in the midst of a baby recession with preliminary estimates showing the number of births in 2023 fell by more than four percent to the lowest level since 2006, according to KPMG. The consultancy firm says this reflects the impact of cost-of-living pressures on the feasibility of younger Australians starting a family.

KPMG estimates that 289,100 babies were born in 2023. This compares to 300,684 babies in 2022 and 309,996 in 2021, according to the Australian Bureau of Statistics (ABS). KPMG urban economist Terry Rawnsley said weak economic growth often leads to a reduced number of births. In 2023, ABS data shows gross domestic product (GDP) fell to 1.5 percent. Despite the population growing by 2.5 percent in 2023, GDP on a per capita basis went into negative territory, down one percent over the 12 months.

“Birth rates provide insight into long-term population growth as well as the current confidence of Australian families, said Mr Rawnsley. “We haven’t seen such a sharp drop in births in Australia since the period of economic stagflation in the 1970s, which coincided with the initial widespread adoption of the contraceptive pill.”

Mr Rawnsley said many Australian couples delayed starting a family while the pandemic played out in 2020. The number of births fell from 305,832 in 2019 to 294,369 in 2020. Then in 2021, strong employment and vast amounts of stimulus money, along with high household savings due to lockdowns, gave couples better financial means to have a baby. This led to a rebound in births.

However, the re-opening of the global economy in 2022 led to soaring inflation. By the start of 2023, the Australian consumer price index (CPI) had risen to its highest level since 1990 at 7.8 percent per annum. By that stage, the Reserve Bank had already commenced an aggressive rate-hiking strategy to fight inflation and had raised the cash rate every month between May and December 2022.

Five more rate hikes during 2023 put further pressure on couples with mortgages and put the brakes on family formation. “This combination of the pandemic and rapid economic changes explains the spike and subsequent sharp decline in birth rates we have observed over the past four years, Mr Rawnsley said.

The impact of high costs of living on couples’ decision to have a baby is highlighted in births data for the capital cities. KPMG estimates there were 60,860 births in Sydney in 2023, down 8.6 percent from 2019. There were 56,270 births in Melbourne, down 7.3 percent. In Perth, there were 25,020 births, down 6 percent, while in Brisbane there were 30,250 births, down 4.3 percent. Canberra was the only capital city where there was no fall in the number of births in 2023 compared to 2019.

“CPI growth in Canberra has been slightly subdued compared to that in other major cities, and the economic outlook has remained strong,” Mr Rawnsley said. This means families have not been hurting as much as those in other capital cities, and in turn, we’ve seen a stabilisation of births in the ACT.”   

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