Oracle Layoffs Shake Bengaluru Housing Market: IT Workers Rethink Home Buying

• Oracle's layoffs, impacting 12,000 in India, are causing ripple effects in Bengaluru's real estate market.
• Tech professionals, primary homebuyers in Bengaluru, are deferring purchases or downsizing budgets due to job insecurity.
• The IT sector's growth has slowed significantly from 15% to 5-6% annually, impacting housing demand.
• Automation and AI are projected to affect up to 20% of IT and call center jobs by 2031, adding to market uncertainty.
• While not in crisis, Bengaluru's housing market faces a transition as IT incomes and real estate demand decouple.