It's not 'can't afford kids', it's 'don't prioritise having kids'. And IMHO, they've been taught to think this way. To put career and materialism above family. There's also the constant messaging about an impending climate apocalypse or the rise of new fascism/nazism - which helps justify 'I don't want to bring new life into this world' logic.
Other cultures continue to have kids even in relative poverty, they don't choose to stop having families because times are tough.