This is an interesting article from Knowledge@Wharton.com about the industry and why good opportunities still abound in hot markets. It's certainly HOT here in Panama!
Excerpt;
While many Americans are worried that real estate prices have flattened
and may even turn downward, some of the country's top commercial
developers say there always is opportunity for those who manage their
projects efficiently in a global market, focus on areas with growing
demand and have the staying power to wait out the downturns.