please explain why, page-16

So, interesting times ahead. In hindsight now, the Fed having reduced cost of capital, meaning (1) RRT should be making a killing having the chance to refinance etc and (2) US housing/economy really is in a bad state. However, it doesn't follow that this will permeate into commercial buildings nor that it will impact long lease earnings nor that RRT's buildings are in badly affected states (i'm yet to look into this). I am worried, though, that the "opportunistic selling" in the US might be affected which may slow RRT growth. Likewise, capital losses won't help.

I would like to see them seeing half their US holdings, and moving to somewhere where growth is more likely, say India/Canada.

Thoughts?