A Real Estate Investment Trust is for small investors, although wealthy, big investors can invest in it also.

小投资者可以投资房地产投资信托基金,富人和大投资者也可以投资

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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

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They didn't want flippers; they didn't want the company that's speculating in real estate, they want it to be a holder of real estate.

国会不希望投资者快进快出,不希望他们在房地产市场投机,而是希望他们是房地产的持有人

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Now the interesting thing is, the green line here is the expenditure on real estate investment.

有个有趣的情况,绿线代表房地产投资支出

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Real Estate Investment Trusts became very important in three waves.

房地产投资信托基金,在经历三次发展浪潮后变得十分重要

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Wal-Mart, after the 1960 Act of Congress, would say, hey we're a real estate investment trust, we own real estate--all these stores -but that's not what the intent of this bill was.

国会通过这部法案后,沃尔玛说我也是房地产投资信托基金,我也持有房地产,所有店铺都是房地产,但这并不是这部法案的本意

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Another way of putting it, the government is effectively saying that unaccredited investors are free to invest in corporations that invest in real estate and they're subject to the corporate profits tax.

换句话说,实际上政府允许,非可信投资者自由投资,那些投资房地产的公司,只是他们必须上缴公司所得税

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Today I want to talk about banking and this ties in somewhat to my previous lecture, which was on real estate, because banks are major real estate lenders and investors in real estate securities.

今天我想谈一谈银行业,这与我的前一讲紧密相联,即有关房地产的内容,因为银行是房地产行最主要的资金贷方,和房地产证券投资方

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The percent who think it's the best investment is higher in Los Angeles than in Milwaukee, and since the peak of the bubble in 2003, it's been declining in Los Angeles but, surprisingly, rising in Milwaukee.

认为房地产是最佳投资选择的人群,在洛杉矶居民中所占比例远高于密尔沃基,自从2003年房产泡沫达到最高峰,洛杉矶房价就一直在下跌,令人惊异的是密尔沃基房价仍在上涨

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The market portfolio is, if you took all the stocks and bonds, and oil, and real estate, anything that's available to invest in, in the whole world, put them all together in one portfolio.

市场组合则是，假设你在全世界范围内购买了所有，能够投资的股票，债券，石油和房地产，将他们放在同一个投资组合里。

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These are called REITs, Real Estate Investment Trusts.

房地产投资信托基金也简称REITs

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We have democratized -Now, REITs are a rapidly growing force in investing and now we have substantially democratized real estate holdings so it's not exclusively DPPs that are holding -not primarily--we have a lot of REITs now.

房地产投资已经公众化了,投资领域中的REITs正蓬勃发展,使得房产投资从根本上来说,公众化了,而不像DPP具有排他性,现在REITs数量众多

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