I have lived in Germany for 7 years. I hold a STEM master‘s degree and was working an industry job that paid market rate salaries. With 50k€ in savings I was still denied mortgages because 50k was just barely covering the additional purchase costs (such as realtor and notary fees).
For a modest condo with a small garden in a small-ish city in central Germany I would’ve had to work and pay the mortgage until I retired, because the average house was 600k EUR. And most of the properties sold at that price still needed significant renovations.
If that is not f^cking crazy, then I don’t know what is.
Yeah the salaries in Europe do not jive at all with the housing prices in major metros. At least in the US a STEM job is probably gonna pay north of 6 figures if you’re in a decent metro area. I live in the EU now and if I switched from freelancing for American clients to working a full time job here I would be taking a major pay cut to do it. The pay is god awful but rent is fairly comparable to where I used to live on the US west coast.
I have lived in Germany for 7 years. I hold a STEM master‘s degree and was working an industry job that paid market rate salaries. With 50k€ in savings I was still denied mortgages because 50k was just barely covering the additional purchase costs (such as realtor and notary fees).
For a modest condo with a small garden in a small-ish city in central Germany I would’ve had to work and pay the mortgage until I retired, because the average house was 600k EUR. And most of the properties sold at that price still needed significant renovations.
If that is not f^cking crazy, then I don’t know what is.
Yeah the salaries in Europe do not jive at all with the housing prices in major metros. At least in the US a STEM job is probably gonna pay north of 6 figures if you’re in a decent metro area. I live in the EU now and if I switched from freelancing for American clients to working a full time job here I would be taking a major pay cut to do it. The pay is god awful but rent is fairly comparable to where I used to live on the US west coast.