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I don’t understand why techies are being blamed for this. I make what I believe to be industry median for a software engineer with 6 years experience. Let’s say
by jdavis703 8y ago
I don’t understand why techies are being blamed for this. I make what I believe to be industry median for a software engineer with 6 years experience. Let’s say I saved enough ($200k) for a 20% down payment on a million dollar house. The bank still wouldn’t qualify me for the monthly payments. Who are these techies who are easily saving for these massive down payments and high monthly mortgages?
- sparky_z 8y agoMarried couples.
- dawhizkid 8y agoDual income helps
- pembrook 8y agoTotal comp at FAANG and a few other big tech names well exceeds the industry median. Anecdotally, of all the people I know who own in the Bay Area, it’s always a couple where both work in Big Tech. For these couples, a household income of $400k is standard. That’s your answer.
- opportune 8y agoIf you and a spouse made a combined $400k/year (two people in software with 3-8 years experience) you could afford it.
- manfredo 8y agoI think the rationale is that if tech workers weren't so prevalent in the Bay Area or didn't make so much money, then these houses would sit empty long enough for the owners to reduce the price. That, and probably just a broader desire among many media outlets to depict tech as the Big Bad (TM). Chronic lack of supply and tax policy that incentivizes holding onto one's home for as long as possible isn't as compelling a headline.