CHICAGO—The US economy has been in a slow but steady recovery for several years now, but yesterday about 600 real estate decision makers from overseas and across the nation gathered at the annual NAI Global Market Outlook in Chicago to mull over what obstacles or bumps in the road may be up ahead.

Jay Olshonsky, president of NAI Global, began the morning by introducing Dr. Peter Linneman, chief economist of NAI Global, and Sam Zell, chairman of Equity Group Investments, and asked them to tackle the question.

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