My hypothesis isn’t that it’s not affordable, it’s that people don’t stand to personally benefit from having kids, and birth control is available, so they don’t. If you‘re willing to tolerate any quality of life, well you might just be able to afford kids.
I also think our attitude towards education specifically is a key driver of low fertility. We have invented a system where we literally take the horniest most fertile members of the population and we have them compete in a boundless contest to accumulate more and more prestigious, time consuming, and necessarily more irrelevant accreditations.