They're supposed to be like a pass through vehicle -they're owning real estate on your behalf, so they shouldn't be retaining earnings.
房地产投资信托基金应是投资中介,它代表你持有房地产,所以不应该留存利润
that could do anything from consulting to banking to finance to recruitment agencies.
从咨询到银行业,到金融,到招聘中介机构,各行各业都有。
Back in 1988, when we started this study, we asked realtors around the country, what is the hottest market in the United States?
回溯到1988年,那时我们刚开始这项研究,我们问遍了整个国家的房产中介,在美国最炙手可热的市场是哪里
We want a life in which we're accomplishing things, there's agency, and the life of knowing things.
我们想要充满成就的生活,生活要有中介,我们想要能获得知识的生活。
An intermediary is a bank, so when they pull out of banks they were disintermediating and going from banks into REITs.
这里的中介就是指银行,所以人们将资金从银行转向REITs,就是去中介化
Although, in some sense, it wasn't really disintermediation because you could say a REIT is a different kind of intermediary between the individual and the investment.
某种意义上这不是真正的去中介化,因为你也可以说REITs是另一种,个人投资中介
So, a lot of people switched from savings accounts to REITs -that's called disintermediation.
于是很多人把钱从储蓄账户转向REITs,这被称为去中介化
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