Buying a Bay Area home is now a stretch even for Apple and Google engineers

Software engineers at Bay Area tech companies, including Apple, Google and Facebook, would have to fork over more than 28% of their monthly salaries — a move frowned upon by financial experts — to pay for a home within a 20-minute commuting distance from their office, according to the study. The average software engineer at Apple, for example, makes $188,000 a year, and would have to spend 33% of his or her salary to afford a median-priced home in Apple’s hometown of Cupertino, the study said. For software engineers at Reddit and Google, the mortgage and tax payments would total 32% of their income. Twitter engineers would have to fork over 30%, and Facebook engineers 29%.

Article source: http://www.latimes.com/business/la-fi-bay-area-home-price-20180215-story.html

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