This is very good news for the Trump campaign, because most Americans don't want things to remain the same.  A desire for change is in the air, but our economy is unraveling so rapidly that it won't be easy for anyone to turn things around.  We have built up a tremendous amount of momentum in the wrong direction, and it appears that the months ahead are not going to be pleasant.

Just look at what is happening to home sales.

Last month, sales of previously existing homes fell to the lowest level that we have seen since October 2010.

Of course in October 2010 we were dealing with the aftermath of a global financial crisis.

Overall, we are on pace "for the worst year since 1995" for sales of previously existing homes…

Sales of existing homes in the U.S. are on track for the worst year since 1995—for the second year in a row.

Persistently high home prices and elevated mortgage rates are keeping potential home buyers on the sidelines. Sales of previously owned homes in the first nine months of the year were lower than the same period last year, the National Association of Realtors said Wednesday.

Existing-home sales in September fell 1% from the prior month to a seasonally adjusted annual rate of 3.84 million, NAR said, the lowest monthly rate since October 2010.

Let those numbers sink in for a moment.

We haven't seen anything like this for a long time, and nobody can deny that the market for residential real estate is in a depressed state right now.

And it appears that this month could be even worse than last month, because the number of mortgage applications being submitted is absolutely plummeting…

Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association's (MBA) weekly application survey for the week ending October 11, 2024.

The Market Composite Index, a measure of mortgage loan application volume, decreased 17% on both a seasonally adjusted and an unadjusted basis from one week earlier.

Meanwhile, our nationwide commercial real estate crisis just continues to intensify.