The law must have changed then. The last person I talked to about dual citizenship (not that long ago!) told me that US law did NOT recognize it. You forsake all other allegiances as you said. I’d like to see a link to the new law.
I, as her spouse cannot own property and I have limited ownership in a business (I think it's 40%, but don't quote me)
My wife is happy to be an American citizen and has little desire to maintain any connection to The Philippines.