Commercial real estate--that means real estate owned not by individual households but by businesses.

商业地产,适用于商业用途而不是个人居住

耶鲁公开课 - 金融市场课程节选

The value of real estate in the United States today is -of real estate owned by households directly -is about twenty trillion dollars, which makes it comparable or maybe a little bit bigger than the stock market.

现今美国房地产的价值,也就是居民直接持有的房地产的价值,大概有20万亿美元,这与股票市场总值相当,可能还要更大一点

耶鲁公开课 - 金融市场课程节选

They wanted REITs to be companies that just owned real estate and Wal-Mart is primarily a retailer.

EITs应是只持有房地产的公司,而沃尔玛主要经营零售

耶鲁公开课 - 金融市场课程节选