When you dream of being in despair, then such dream indicates the hard times which are ahead of you. Perhaps the unconscious mind of yours already knows the matter of it and warns you to prepare for it. If other people are in despair while you are dreaming, then it shows the unhappy times for those people. You should give as much help as it is possible, in order to be useful.
Read more about dreaming of Despair in other dream meanings interpretations.