How to Play the Real Estate Recovery

For investors, the real estate roller coaster ride continues. They made billions -- probably trillions if you add it all up -- flipping houses, leasing offices and constructing condo towers. Then the real estate market collapsed, throwing the U.S. into the 2007-2009 recession.

Now the prognosis for real estate investments is looking much better, though it's anything but simple. Some commercial real estate has rebounded, with investors craving income that real estate provides, while residential real estate -- particularly single-family homes -- may be at once-in-a-lifetime bargain prices.

Three top experts give their take on the the opportunities and potential pitfalls facing real estate investors in the coming years.