Ashley Ayala, a 37-year-old insurance appraiser near Austin, Texas, has been saving diligently for a home purchase, amassing $25,000 for a down payment. Despite her financial progress, she remains hesitant to buy, deterred by persistent economic instability. The average 30-year fixed mortgage rate stands at approximately 6.25%, according to Freddie Mac, while job security in her sector feels increasingly fragile. Several colleagues in the insurance industry have faced layoffs, and Ayala’s employer has signaled that overtime—accounting for nearly half her income—may no longer be guaranteed.
“On paper, I’m in the best financial position I’ve ever been, but everything still feels out of reach,” Ayala said. Her situation reflects a broader trend observed over the past six months, during which a group of individuals from diverse backgrounds were followed to understand their economic decision-making. Rather than making major life changes, many have chosen to wait, caught in a limbo shaped by inflation, trade policies, and geopolitical tensions.
Wendy Edelberg, a senior fellow at the Brookings Institution, noted that high borrowing costs and labor market uncertainty make long-term planning difficult. “How can anyone confidently make financial decisions when the future is so unclear?” she asked. For Ayala, personal factors compound the challenge. A recent breakup and a demanding work schedule—three weeks of travel each month—limit opportunities for meaningful relationships. While she jokes about her short monthly availability, the reality makes cohabitation or shared finances unlikely in the near term.
With homeownership on hold, Ayala has redirected spending toward personal improvements. She invested $5,000 in ceramic braces and expanded her collection of premium cookware, including a pumpkin-colored braiser and Dutch oven. “If I’m not buying a house soon, why not enjoy a few small luxuries?” she said. Still, the sense of stagnation lingers. A career shift to allow more personal time would mean a pay cut, something she resists due to childhood memories of her mother’s financial vulnerability after a divorce. To Ayala, financial independence means security, and that means waiting—possibly indefinitely—for more stable conditions.
— news from marketplace.org
— News Original —
Economic uncertainty is leaving a lot of people feeling stuck
Ashley Ayala is a 37-year-old insurance appraiser living near Austin, Texas, who we’re following for our series Lived Economies. Check out some of our earlier stories about Ayala as she navigates owning or renting. n nAfter months of going to open houses and stockpiling her savings, Ashley Ayala is still a renter. n n“So, I went and looked at a couple houses, and they’re awesome and great, and I really, really want one,” said Ayala, who’s 37 years old and lives near Austin. “But I’m terrified.” n nThere is a list of reasons. But at the top is the economy. Mortgage rates haven’t really come down. The average 30-year fixed sits at about 6.25%, according to Freddie Mac. Meanwhile, Ayala works in insurance, and a few of her friends who also work in the industry have been laid off. Her company keeps reminding employees that they shouldn’t expect overtime, even though it makes up almost half of Ayala’s paycheck. n n“Financially, on paper, I am doing better than I ever have before, but it feels a lot harder, because everything still seems out of reach,” she said. n nSix months ago, I started following six families from all different backgrounds to get a sense of their place in the economy and how they’d navigate the time ahead. Back then, I imagined I’d document a lot of changes in people’s lives. Instead, a lot of people — like Ayala — have hit pause. n n“Think about the challenges that she’s talking about,” said Wendy Edelberg, a senior fellow in economic studies at the Brookings Institution. “She is seeing a complicated job market for her friends. She sees mortgage rates quite high.” n nThere are also tariffs, inflation, and complex geopolitics. Between a slowing labor market and a frozen housing market, a lot of people are delaying big decisions. n n“How can you do anything in this environment other than just sit and wait for things to resolve?” asked Edelberg. “How can you know what your financial situation is going to look like in a month?” n nFor Ayala, all of this anxiety is heightened because of her personal life. She and her boyfriend broke up in August, and her job makes dating hard. As an insurance appraiser, she travels for three weeks at a time; that leaves her only one week each month to date. n n“That’s a great opener for someone you just want to hook up with: ‘I’m here for a good time, not a long time,’“ joked Ayala. “But it’s not great [for] looking for a potential partner.” n nAyala earned about $130,000 last year, with overtime. That’s what allowed her to save $25,000 for a down payment. But her job is also, in some ways, keeping her from buying a house. To put this kind of crudely, she either needs to merge incomes with a partner or see a shift in the economy to feel good about buying alone. n n“It doesn’t feel like a safe or smart option to pursue right now,” said Ayala. “Yeah, I feel stuck.” n nI asked if she would consider finding a different job to prioritize dating. She said that would require a pay cut, so it’s a nonstarter. n n“Because I saw what it was like when my parents split, and my mom didn’t know what to do and had no idea of what the bills were, let alone how to pay them. So for me, money is safety,” she said. n nSafety also means waiting to buy a home. In the meantime, she’s spending her money in other ways. She got ceramic braces — the kind with clear brackets, which cost $5,000. She’s also added to her collection of Le Creuset cookware. n n“It’s a pumpkin braiser and a pumpkin Dutch oven. And I love them,” she said. “So I mean, if I got braces, like, I can just eat soup now.” n nAyala figures if she’s not buying a house anytime soon, what’s a few hundred dollars worth of pots and pans?