The URBAN LAND INSTITUTE likes the prospects for real estate investments in global gateway cities with 24-hour features such as New York, Washington, Los Angeles, Seattle and San Francisco. I’m not buying that 24-hour thing.

While the industry will likely experience a slowdown in the year ahead, Emerging Trends points out that returns on most property types are expected to remain satisfactory, reverting to levels closer to historical averages. “Most respondents expect to sleep well at night, and are comfortable with high- single digit returns for core properties,” says ULI Senior Resident Fellow Stephen Blank.