Simply put, no. 

If you’re among the 60% of 9-to-5ers living paycheck to paycheck, you're likely doomed to a lifetime of renting. 

This isn't just pessimism—the numbers are stark, as even those who do escape the 60th percentile struggle to save more than 10% of their income.

The brutal truth?

A promise of a steady 9-to-5 job, modest savings, and eventual homeownership is more than likely a myth.

Why Is This Happening?

Three questions: 

• How did we get here? 
• How bad is it?
• What can be done?

Here are the likely causes, explanations, and possible solutions. 

1. Wage Stagnation: 

With the cost of living at an all-time high, one would assume wage earnings would match demand with supply. 

However, while expenses have tripped over the last decade, median household income rose by only 2.3% annually over the same period. 

The result? 

A failure to keep pace with inflation or housing costs.

2. Higher Borrowing Costs: 

Mortgage rates are averaging around 7-8% in 2024, effectively pricing out millions of potential buyers. 

For a $400,000 home, this means an additional $10,000 annually compared to rates from 2020.

Thanks to such an outrageous increase, local and international home hunters are priced out of prime locales.  

3. Havens Turned Hell

In the U.S., for example; 

The median home price increased from $329,000 in Q1 2020 to $416,000 in Q3 2023—an increase of 26.5% in just three years.

As a result,  once affordable cities become literal financial minefields for workers.

On average, single-income households earning $70,000 annually can now barely scrape together a down payment.

Examples of such cities include:

• San Francisco:

Median home price exceeds $1.3 million.

• New York City: 

The average cost of entry-level homes is $750,000, requiring a $150,000 down payment.

• Austin, TX: 

Once affordable, the city’s housing market has exploded, with prices doubling since 2015. 

NOTE: 

While housing prices have surged globally, alternatives such as the Parktown Residence continue to offer a future-proof way out. 

Why 9-to-5ers? 

While this issue is not unique to 9 to 5 workers, this group  is the hardest hit due to one or more of the following reasons:

• Fixed Salaries, Variable Costs

Unlike entrepreneurs or freelancers with scalable incomes, 9-to-5 workers are locked into static salaries while the cost of living balloons.

According to the Economic Policy Institute, worker productivity has grown 64% since 1979, but wages have increased only 17.5% in the same period.

Fixed salaries mean less flexibility to save during times of crisis (e.g., pandemics, layoffs) or when housing costs surge.

• Savings Getting Eaten Alive

Even with an improved savings rate, rising costs in other areas—healthcare, student loans, and groceries mean workers are still making less than ever.

For example, the average savings rate in Israeli was about 25% as of June  2024.

While this is an improvement over the global average, it’s still quite insufficient when you consider the effects of inflation’s  40-year high four years earlier. 

This negated the effects an improved savings culture might have had. 

• Shifting Homeownership Priorities

Millennials and Gen Z, now the largest segment of the workforce, prioritise flexibility and experiences over long-term commitments. 

They’re choosing rent, travel, and investments over locking into a mortgage.

Many don't know the advantages that come with investments these ones in Parktown Residence. 

Untapped Solutions Experts Aren’t Talking About

While this report is not intended to be bleak, certain facts need to be uncovered in order to present possible solutions. 

These include: 

• Shared Ownership Models

A quiet revolution is happening with shared ownership schemes. These models allow buyers to own fractions of properties while lowering costs:

Shared Equity Partnerships: 

In places like the UK, government-backed initiatives like “Help to Buy” let buyers purchase a percentage of a home and rent the rest.

Fractional Ownership: 

Platforms like Pacaso enable buyers to co-own vacation homes, splitting costs and usage.

Why it works: 

Shared ownership reduces upfront costs, provides flexibility, and enables buyers to enter high-demand markets without overwhelming debt.

• Tiny Homes and Micro-Living

Minimalism isn’t just a lifestyle trend—it’s a housing solution.

Tiny homes, often priced below $100,000, are growing in popularity among first-time buyers.

In cities like Hong Kong and Tokyo, micro-apartments (200-300 square feet) offer affordability and urban convenience.

Why it works: 

These solutions are cheaper to maintain, energy-efficient, and allow workers to live closer to city centres without financial strain.

• Remote Work and Second-Tier Cities

The remote work boom has unlocked a new era of housing flexibility.

Locals like Singapore, Johannesburg, and even Kansas City are becoming hotspots for affordability. 

Median home prices in some of these cities even hover around $150,000, well below the global average.

Countries like Portugal and Mexico are luring remote workers with digital nomad visas and affordable real estate.

Why it works: 

Moving to second-tier cities or overseas markets provides more bang for your buck, especially for remote workers.

How to capitalise:

Look for undervalued cities where property prices are climbing due to urbanisation or tourism.

Work with local real estate experts who understand market trends and legal nuances.

• Long-Term Rentals in Expat Hubs

Countries like Singapore, Panama, and Costa Rica are home to thriving expatriate communities seeking high-quality rental housing. 

Lately, there’s been a buzz on social media about how expatriates are capitalizing on paradisiac developments like this Parktown Residence Showflat. This is evidence that investing in these regions can secure stable, long-term tenants who pay premium rates for well-maintained properties.

How to capitalise:

Target cities with strong economic growth and a growing expat population.

Locales often offer incentives that encourage expats to relocate; these include subsidised housing and single grants.

Creative Financing Hacks

• Rent-to-Own

Rent-to-own programs are gaining traction in markets like Atlanta and Dallas. 

These programs allow renters to apply a portion of their monthly rent toward home equity.

Why it works: 

This option bridges the gap for workers who can’t afford a full down payment upfront.

• Employer-Backed Housing

Tech giants like Google and Facebook now offer housing assistance for employees in high-cost areas.

However even non big-tech employees can benefit from what the Parktown Residence Showroom has to offer. 

Why it works: 

Employer programs reduce financial stress while helping companies retain talent.

• Currency Arbitrage

While your savings might be meagre, thanks to varying exchange rates and currency values, you can create opportunities as a foreign investor. 

For example, a strong dollar allows U.S.-based buyers to purchase property in countries where local currencies are weaker, such as Turkey or South Africa.

How to capitalise:

Monitor exchange rates and time your purchase when your currency is strongest.

Focus on properties with long-term appreciation potential in areas with stable political climates.

• REITs: The Virtual Landlord Option

If owning a home feels impossible, why not own part of a development? 

Real Estate Investment Trusts (REITs) allow workers to invest in large-scale real estate with minimal upfront capital.

Why it works: 

REITs provide stable returns (5-8% annually) and allow workers to profit from real estate without physical ownership.

• Invest in Government-Backed Housing Incentives

Several countries offer real estate incentives to attract foreign investment. 

For instance, Greece and Spain have programs where purchasing property above a certain value grants residency. 

These properties can also double as rental investments.

How to capitalise:

Research residency-by-investment programs with clear benefits for property owners.

Prioritise locations with rising real estate demand due to favourable tax laws or economic growth.

Rethinking Homeownership 

The conventional path to homeownership is outdated. Instead, workers should embrace modern strategies:

• Focus on financial flexibility: 

Renting or fractional ownership might offer better long-term returns than traditional mortgages.

• Invest in alternative assets: 

From REITs to digital currencies, diversifying investments can provide financial security beyond property ownership.

• Advocate for systemic change:

 Governments must expand affordable housing programs and regulate speculative markets, driving prices higher.

Conclusion: Is There Hope?

While the odds are stacked against 9-to-5ers, homeownership is evolving rather than disappearing. 

With creativity, flexibility, and a willingness to challenge outdated norms, today’s workforce can still achieve the dream (Just not in the ways we’ve imagined before).

The real question isn’t whether one can afford homes but whether they’re ready to redefine what homeownership means in this century!

FAQ

• Are international markets viable for 9-to-5ers?

Definitely!

Emerging markets in countries like Singapore and Malaysia offer affordable properties and even digital nomad visas for remote workers.

• Is renting always the better alternative?

No, not always. 

Exploring rent-to-own programs or fractional ownership can combine the benefits of renting and owning.

• Can a 9-to-5 worker leverage side hustles to save for a home?

Absolutely! 

Look for scalable side gigs that fit your skills and time constraints.

• Can tiny homes really replace traditional homeownership?

Yes, and no. 

For some demographics it might be feasible, while others are better off investing in the Parktown Residence. 

This article was written in cooperation with Rankwisely