By this generation please clarify you mean the ones that started this campaign in the 70s, not the subsequent lost generations of people who can barely envision owning a home with a graduate degree in engineering
Also, it's 164k a year, not ever. So whether or not it can buy a home in SF kind of depends on how long and how fast you save.
Define buying a house.
an "information technology" degree that teaches React and stuff is not engineering.
This is the last website I would imagine people complaining they can't buy a house.
Lol, is that really what you think I meant by real engineering? You have tunnel vision for computer tech.
Even Senior+ level SWEs at FAANG's in Silicon Valley have trouble buying homes there. The costs are absurd.
You can buy an f'ing house. In places like Ukraine people make $100/month and apartments are $50k(and I'm talking before the war). There, it's LITERALLY impossible.
What people here are describing is that things should be better, and I agree, but words matter.
In 2021, the median annual salary for software engineers in Ukraine ranged from $30,000 to $48,175, depending on location and experience. Some specific figures include $30,000 in Kyiv, $29,000 in Lviv, and $24,000 in Kharkiv. Remote software engineers in Ukraine had a median salary of $48,175.
It's quite below the EU median, but definitely not $100 a day.
BTW $100 a day is $12.50 a hour, which is more than the federal minimum wage in the US ($7.50 or so), and only $4 below California's minimum wage, $16.50.
https://www.zillow.com/homedetails/1460-Latham-St-Mountain-V...
$1.6M 894 sqft 2b1ba
https://www.zillow.com/homedetails/4609-E-Mountain-View-Dr-S...
$1.1M 930 sqft 3b3ba
https://www.zillow.com/homedetails/1763-Fordham-Way-Mountain...
$3.5M 1527 sqft 3b2ba
That last one would be considered a small starter home in my MCOL city and is literally 10x the cost for 300 less sqft of my current home. It's a total joke.
2 FTE Sr SWEs at Google would struggle to even get the downpayment for that last one. The mortgage is like 80% of their after tax salary.
Average mechanical engineer salary (mid-career) = £45k Max mortgage based on salary = ~£200k Average house price = ~£292k
-> Most people with an engineering degree cannot buy a house
Most people with an engineering degree are probably in a relationship, so they don't need to buy a house on a single salary.
There are plenty of houses for sale below the average price, just as there are plenty above.
Buying isn't necessarily the best option anyway. House price returns in the UK are somewhat below stock market returns, so as a pure investment it doesn't make sense. Unfortunately, we have the narrative in the UK that we should aspire to own houses, but that doesn't mean it's necessarily correct!
This doesn't feel like a valid assumption.
Unless the demographics of those with engineering degrees is significantly skewed towards singles, this feels like a very valid assumption. Of course, you might have access to better statistics by profession.
[1] https://www.ons.gov.uk/peoplepopulationandcommunity/populati...