“Commercial rents in some overbuilt areas have dropped 20 to 40 percent, by some estimates. More than 16 percent of area office space and 13 percent of retail space sits empty, reports Colliers.

And at least 9,500 area businesses have closed during the recession, according to a Bee analysis of U.S. Postal Service data early this year.

Owners of multifamily housing are also struggling…”

via Region’s commercial real estate market on knife’s edge – Sacramento Business, Housing Market News | Sacramento Bee.

“…In other words, banks are making profits gambling on Wall Street while pushing out mortgages that are completely backed by the government.  We are letting the folks that clearly had no system of underwriting mortgages correctly or any financial prudence lend out government backed money and the losses are piling up but only in the nationalized Fannie Mae and Freddie Mac.  What a sweet deal.  Stick the junk in a taxpayer silo.”

Housing never really improved – 10 charts showing the United States housing market is entering the second wave of problems. 1 out of 4 people with no mortgage payment in the last year are still not in the foreclosure process. » Dr. Housing Bubble Blog.