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

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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

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