No way. 'Falling Down' is a figment of the imagination. It doesn't draw from any actual events or people. It's all part of the creative process in the world of storytelling.
As I don't know the specific movie, it's hard to say for sure. But common themes in stories about a fall based on true events could be hubris (excessive pride) leading to a downfall, the power of external forces like society or the economy, and the human struggle to cope with change.
Well, it's not always clear. Sometimes authors draw inspiration from real events but fictionalize them. We'd need to look into the author's notes or interviews to know for sure.
The key elements might include who was involved in the 'falling down' situation. If it was a person, their age, physical condition, and what they were doing at the time could be important. Also, the location of the fall, whether it was in a public place or a private area, can play a role. And of course, the aftermath of the fall, such as any injuries sustained or damage caused.
I don't think it's based on a true story. It seems to be a creation of the writer's imagination. Maybe it takes some elements from real life but not a direct retelling of actual events.