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My wife and I are both engineers in our mid 30s, and owning a modest home with a 30 minute commute to the city can probably never happen. The amount of old mone
by aczerepinski 10y ago
My wife and I are both engineers in our mid 30s, and owning a modest home with a 30 minute commute to the city can probably never happen. The amount of old money around here is staggering. I was raised in the midwest, and can't think of any communities back there where a two-engineer household couldn't live. So yeah it doesn't surprise me fresh liberal arts grads in Boston are getting help.
- sokoloff 10y agoBoston area? Plenty of places where a two engineer family can buy within 30 mins. Belmont, Malden, Melrose, Somerville, Chelsea, Revere, Dorchester, West Roxbury, parts of Arlington and Cambridge all should have affordable (for two engineers) housing.
- aczerepinski 10y agoYeah I guess you're right about that. My wife works far west of Boston, so I've only looked at the towns in between.
- sokoloff 10y agoYeah, the Rt 9 corridor doesn't have much cheap inside of 30 minutes of Boston downtown (esp since 30 mins isn't that far with rush hour traffic)
- eli_gottlieb 10y agoA Somerville double-decker these days can be sold for a million dollars, one of its constituent apartments for half that. Two engineers can afford a $500k mortgage?
- sokoloff 10y agoAbsolutely! $200K down and $166K annual income and you can buy the whole $1MM property. $83K/pp income seems completely reasonable for two engineers (and crazy low for two SWEs!) in their 30s. With a combined annual income of only $85K/yr and $100K down, you can buy a $500K property. No way are two engineers in 30s making less than that... (Two train engineers driving for Keolis make more than that.) Without a 20% down payment, you need a little more income, but it's still well within reach of normal professionals who decide they want to prioritize buying a property.