Designed for homes with concrete slab, these real wood floors can be installed on both wood subfloors as well as concrete. Engineered floors can be installed below grade as well. These floors come in a variety of textures from smooth, handscraped, as well as wirebrushed.

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What are the advantages of engineered flooring?

Engineered flooring can be installed on both concrete and wood subfloors.  They are more dimensionally stable so you can use a wider plank than you could with solid.  They can also be installed below grade (basements).

What are the disadvantages of engineered flooring?

Higher price point compared to vinyl flooring.  Vinyl are waterproof, while engineered is water resistant.
Do you need underlay for engineered flooring?  As with all flooring, you will need at least a moisture barrier under it.  Then it comes down to how you install.  Floating floors can use a pad/moisture barrier combo.

Which is better, laminate or engineered

Engineered floors will add value to your home while laminate are cosmetic.  Laminate floors have a higher scratch resistance.  With laminates you get a repeating pattern of 4-6, while with engineered floors, no two boards are ever the same.