http://www.therealestatebloggers.com/2010/01/11/housing-could-remain-big-weakness-in-united-states-economic-picture-for-2010/

It should be no shock that housing will remain weak.  Until the jobs picture improves dramatically and consistently, the ability for potential homeowners to purchase a home is small.  While no single indicator can ever capture a market as diverse and dynamic as the US market, the closest thing we have is jobs.  And it is not only the jobs lost, it is also the threat of jobs lost that casts a pall over the housing market, and it appears to be that way for a while.  Does any body really see a real improvement in job creation?

http://www.therealestatebloggers.com/2010/01/04/freefall-in-commercial-real-estate-slowing-occupancy-rates-at-record-highs/

It is hard to say whether this problem is improving, moderating or declining.  Every day a new report comes out that seems to contradict other reports. With that said, it is even harder to buy commercial real estate today then ever.  The so called decline in properties affects only the properties in financial difficulty.  Those that can still pay their mortgage are not interested in selling at the prices quoted.  The properties in foreclosure or bank owned are being circled by vultures.  Yes you can make a good deal based on today’s value if you can even make a deal.  One problem in trying to evaluate the properties, is how do you project going forward.  Have we hit bottom, are we near the bottom, or is there more massive bad news out there.  Unless you can answer these questions how do you know the price you are paying is a good price. It only appears to be a good price based on historical numbers.  No one has a crystal ball to predict how much lower the market will go.  When purchasing a property, if you don’t have at least one or more scenarios of rents declining for at least 2 or 3 years (or more) and vacancy increasing over historical norms, and see how that affects your economic model, then you are kidding yourself.