Lehman brothers bankruptcy and bank of America's plan to buy Merrill lynch will affect the real estate industry. Shopping centers, warehouses and apartment buildings have seen a decrease in sale in 2007. Banks issued securities to investors as a way to raise more money to lend to buyers of commercial properties. The result has been less money available to finance the purchase of commercial real estate. According to a data, the market rate to buy an office property in metro Phoenix was $3.1 billion between august and July 2007. This number fell to $1.8 billion between august and July 2007. Lehman brothers and Merrill lynch had invested in commercial real estate loans and properties. Both the banks had earlier announced that they would sell some of these loans to other companies due to bad conditions in the commercial real estate market. Commercial real estate is considered a riskier investment because of rising vacancy rates, dreary rent growth and instability of tenants in housing industries.