Interest rates are rising, economic clouds are darkening, and real estate deal flows are sinking because buyers and sellers cannot agree on pricing. But for all that, most commercial real estate professionals we interviewed for this year’s Emerging Trends remain reasonably upbeat about longer-term prospects. Not everyone is as sanguine as the CEO of an investment management firm who provided our opening quote, and there certainly are some troubling risks ahead for the industry. But the consensus mood seems to be one of cautious optimism that we will ride out any near-term slump and be well positioned for another period of sustained growth and strong returns.