The Urban Land Institute and PricewaterhouseCoopers are plugging a new jointly produced report called Emerging Trends in Real Estate 2009. Here's a snippet of interest to Floridians:

In terms of investment, Seattle and San Francisco take the top two rankings, beating out New York City, which has traditionally been ranked at the top for investment prospects. For 2009, New York slips to fourth place, ranking after Washington D.C. Los Angeles “holds its own” in fifth place, but suburban areas outside that city, specifically the housing market in Riverside and Orange County will suffer. Las Vegas and Phoenix get “blown out,” while Florida markets are described as in “disarray.” Markets in the Midwest continue to lose more ground; however, Chicago manages a “fair” ranking in the region-wide decline.  Meanwhile, the relative position of Texas markets has improved due to the oil industry.

The report, which focuses heavily on the commercial real estate,  predicts a bottoming of the real estate market in 2009, followed by a lackluster 2010:

Real estate industry experts expect financial and real estate markets in the United States to bottom in 2009 and then flounder for much of 2010, with ongoing drops in property values, more foreclosures and delinquencies, and a limping economy that will continue to crimp property cash flow.