Let's say I want to buy a starter home in Sunnyvale for $1.4m, how do people pay for this??
Even with a 300k downpayment, the mortgage would be almost 8k a month, that's several thousand more than my take home pay a month after taxes..
I've always heard that housing shouldn't be more than 30% of your income, does that mean that everyone who owns a house here makes 25k a month?
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Average tech salary for Eng and Managers are around 150k which means your take home will be 101k which is $8400 / month.
So it's not possible unless the wife would have a take home salary of 5k in which case then it would be barely possible.
These days, I am not sure. People seem to think that if they work in tech, they have to own a house in prime property and stretch themselves thin. You work your way up.