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by easde
2011 days ago
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Back then a software engineer at a well-known big company would make around $30-50k (not inflation adjusted). Combined with 1993's interest rates (~7%) $300k was quite steep. Today the same engineer at a FAANG would make about $300k. Houses are about $2M and interest rates are about 2%, so relatively speaking things are cheaper. However, unlike in 1993, today's salaries are unlikely to grow by 10x over the next 30 years while the mortgage is paid off! |
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