I recently attended an event sponsored by Wells Fargo Bank for its investment clients.  The event was called FOCUS 2010 - Beyond The Great Recession, and there were five speakers, all Wells Fargo vice-presidents in the investments section, and you could tell they were pretty bright guys.  While a lot of the focus was not on real estate, the last speaker, Paul Hornung, Executive Vice President and Senior Credit Officer, is pretty much the head of commercial real estate lending.  In his opinion apartments continue to be the bright spot in commercial real estate, because people have to live somewhere.  The consensus of the group was that even though we are not at the bottom of the real estate market it is "within sight." They are thinking sometime in 2010 we will see the bottom.  Get ready to buy.