With the U.S. representing less
than half of the available universe of globally listed
property stocks, focusing on U.S. REITs alone can be viewed as a restrictive and undiversified approach to asset
allocation.
The «individualist» and «socialist» designations are rather vague, but I think they have to do with beliefs about the relative performance
properties of different kinds of institutions rather
than personal value orientations about the
allocation of goods.