3 ms·
> But those immigrants are never going to earn the necessary 5%, never mind 10% for a deposit. Why not? Immigrants to the UK mostly live in wealthier places, a
by dukeyukey 3y ago
> But those immigrants are never going to earn the necessary 5%, never mind 10% for a deposit.
Why not? Immigrants to the UK mostly live in wealthier places, and while it's hard to find figures, either earn very close to what locals do, or more. A software engineer in London usually earns enough to buy in the city, and definitely earns enough to buy in the London suburbs.
- lozenge 3y agoI am a software engineer and earn more than 95% of income earners according to HMRC statistics. So how is this relevant? If nobody worked those other 95% of jobs life would collapse.
- dukeyukey 3y agoBecause HN is overwhelming software engineers, and more than half the developers I've worked with have been immigrants. So I figured telling people what the housing situation is like for software engineers is probably relevant.
- zimpenfish 3y ago> A software engineer in London usually earns enough to buy in the city Maybe at FAANG salaries and maybe 10 years ago. Definitely not now at normal salaries. (Source: me, a software engineer in London for the last 25 years)
- dukeyukey 3y agoDefinitely now, because I'm in my late 20s and I'm seeing software engineering friends buying places in zone 2 and 3. Usually apartments and often with something like shared ownership or a lower-earning partner, but buying all the same. None work in FAANG or high-paying places, think in the £60-70k range. (just realised I said "the city" in my original comment and realised that could mean the City of London - I meant London itself, sorry if any misunderstanding!)