I know that's hyperbole, but here's something for $600k. Let's say it goes for $700k. 20% of 700 is $140k.
An L4 engineer at Google makes like $300k. round down to $200k post tax. live in shared housing for $2000/month; that's $24k/yr, add $2000/month living expenses on top of that, is another $24k. Stick $2000/month into 401k, Save the rest (200-24-24-24 ) 128k and you'll save up $140k in a bit over a year.
bam; owner, not renter.
Now, whether this is better than renting, and putting the money into the stock market is totally other question, but even L4's at Google can afford a mortgage in Mountain View.
An L4 engineer at Google makes like $300k. round down to $200k post tax. live in shared housing for $2000/month; that's $24k/yr, add $2000/month living expenses on top of that, is another $24k. Stick $2000/month into 401k, Save the rest (200-24-24-24 ) 128k and you'll save up $140k in a bit over a year.
bam; owner, not renter.
Now, whether this is better than renting, and putting the money into the stock market is totally other question, but even L4's at Google can afford a mortgage in Mountain View.
https://www.zillow.com/homedetails/50-E-Middlefield-Rd-APT-4...