It’s been years since the climate for investment in commercial real estate has been this favorable—property fundamentals are improving, construction pipelines are just revving up and interest rates remain at historically low levels (at least for now). People have plenty of capital and are anxious to deploy it. But anyone who’s been in this industry long enough knows that it’s a cyclical business and that every cycle carries with it its share of risks. We asked 9 notable real estate economists to tell us the one piece of advice they would give commercial real estate investors at this precise point in the market cycle. Click through our slideshow to see what they said.