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by ace32229 341 days ago
Here in the UK:

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

3 comments

Most people with a mechanical engineering degree cannot buy an _average_ house - not quite the same
Extrapolating your answer, Most mechanical engineering firms are not in the same areas as the cheap houses. So on your point, most mechanical engineers cannot buy a house that they can live in and get to work.
There are several counter arguments here.

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!

> Most people with an engineering degree are probably in a relationship

This doesn't feel like a valid assumption.

Over half the UK adult population is married. According to the ONS, 61% of the population aged 16 or above is living with a partner. [1]

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...

That means you can buy a house a little below average. With a spouse straight up can.