I do not judge value in dollar levels I just like to trade URE between $3-$5 range, URE is down quite a bit and I do know its going lower but when you see oversold conditions on certain sectors you just have to take it. I know commercial real estate is headed down alot further, I have been saying this for nearly 2 years now and I know 2009 is going to be an extremely tough year for retail, that being said commercial real estate is going to drop like a rock.
Cemex got their billions of 2009 2010 debt refinanced to 2011. No BK here http://v2.ftalphaville.ft.com/blog/2008/12/23/50701/cemex-banks-agree-to-refinance/