Why are ordinary people unwilling to have children?

In our country, the family planning policy began to be implemented in 1971. The comprehensive two-child policy was officially implemented in 2016.

Between 1971 and 2016, there were 22 years with a birth rate of over 20 million. In 23 years, there were over 15 million births. However, after the policy was relaxed in 2016, the number of births plummeted! In 2023, the number of births fell below 10 million.

By common logic, the living standards of ordinary people have greatly improved now. Material life and spiritual life are richer. Instead, there is a phenomenon where both the wealthy and the poor are choosing not to have children.

Has the concept of 'having many children is a blessing' changed for ordinary people, or has the social environment and societal values changed people?

What will the birth rate be in 2024?