This is the prime factor across the USA especially cities that where booming before and now are at a stand still. (i.e. California, Dallas {actually across Texas is a huge problem} , NY, Florida, and Chicago just to state a few).  I deal with property locating in NY, so  I see it first hand. I see the residential properties being bought because of the limited amount of investment capital needed to acquire the properties compared to Commercial Sales.  There are buildings that have been reduced so much in Manhattan to entice buyers that it is shocking. But as all markets it's soon going to pick up but no one can say how soon.