How malaise in the U.S. housing market helped fuel the blue wave

The Globe and Mail · Jason Kirby · 2026-11-05 16:57 UTC

Inflation driving up the prices of everyday items and homes was one of the biggest complaints of angry U.S. voters

The U.S. housing market, historically a major engine of economic growth south of the border, is stuck in a deep freeze. At the same time, the U.S. economy just clocked its fastest growth in a year last quarter.

The disconnect between high-level economic indicators and the everyday reality for U.S. households explains a lot about this week’s stunning midterm election results.

While U.S. Bureau of Economic Analysis numbers released last week showed growth in the third quarter was powered by investment – in particular the supercharged artificial-intelligence build-out – the housing sector is waving multiple red flags.

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