Latin America’s generational shift: What’s causing record-low birth rates across the region?

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Along Vespucio Sur Avenue, one of the main strips of Santiago, Chile, a massive real estate billboard advertises a new housing complex: “Green areas, barbecue space, pet-friendly sector.” The growing focus on spaces for pets as a major real estate selling point for couples has spread across the region, and the same sign could be seen in Bogotá, Rio de Janeiro, or any other major Latin American city.

In one of the most upscale neighborhoods of Mexico City, a nail salon sells gel manicures at a similar price to what its neighboring pet grooming business offers for a “premium petunia bath.” The price points might have turned heads years ago, but now it just makes sense. Dogs have…

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