Key Takeaways
\nAt least 35% of workers who might have purchased a car or a house are delaying or canceling those plans instead, a new Redfin survey found.The reason is heightened job insecurity, driven by concerns about company performance tariffs, and AI, Redfin said.Some 37% of workers said they\u2019re more fearful about their job security today than they were six months ago.Consumers are prioritizing maintaining flexibility over making major purchases, one certified financial planner told Investopedia.<\/p>\n
People who might normally have bought a new car or put down an offer on a house are instead delaying those plans, or canceling them entirely, according to a new survey from Redfin.\u00a0\n<\/p>\n
The firm found that 35% of workers said they\u2019re delaying a big purchase because of job security fears, while 9% said they are canceling such a buy. Another 30% say they\u2019ve made a purchase earlier than expected, or plan to, because of the same economic concerns. The delay-or-cancel trend is strongest among those earning $50,000 or less, 57% of whom say they’re pushing back or scrapping a big purchase.\n<\/p>\n
Employees are increasingly worried they could lose their jobs, particularly as artificial intelligence usage<\/a> is growing at workplaces across the country, said Redfin Head of Economics Research Chen Zhao.\n<\/p>\n \u201cMany workers are worried about job security as they watch their companies adjust to this uncertain economy<\/a> and increasingly look to AI<\/a> and other new technologies for efficiency gains,\u201d Zhao said. \u201cFrom a housing perspective, that wariness is keeping some would-be homebuyers on the sidelines<\/a>.”\n<\/p>\n Case in point: 37% of workers said they\u2019re more fearful about their job security today than they were six months ago, compared to just 20% who said they feel a little or a lot more confident today versus six months ago. Workers cited company performance, tariffs, and AI as the biggest drivers of job insecurity.\n<\/p>\n Clients Prioritize ‘Flexibility’ Over Big Ticket Items, Says Financial Planner <\/p>\n Luke Harder, a certified financial planner at Claro Advisors, said he\u2019s seen these concerns among his clients.\u00a0\n<\/p>\n \u201cMortgage rates<\/a> remain elevated, car prices are historically high<\/a>, and wages haven\u2019t kept pace<\/a>. Against that backdrop, it\u2019s no surprise people are putting major purchases on hold,\u201d Harder said. \u201cLayoffs and restructuring are also dominating conversations. Smaller companies are feeling their margins squeezed, and advances in technology are replacing administrative roles.\u201d\n<\/p>\n