Self storage units having a tough time

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Americans love. Renting storage facilities. And it's something that the whole rest of the world shakes it's heads at because we have. Every square footage per person residential space that is the largest in the world the average size of a house has gone up so much over the last two generations even though the number of people per household has gone way down. But at the same time in addition to our places we live, we have all these self storage facilities and there are any of a number of reasons why we would have them. The industry historically has. Rented to people who are going through some kind of life change a relocation some as passed away could be a, you know a family splitting apart. There there are a number of reasons why people might rent a storage facility in addition to just having to might stuff and they store it. Well. One of my kids recently was. Considering renting a storage facility for six months and. Shopped around and found such differences from one location to another it was a stunner. And then. The places would not leave her alone. Once, she had contacted someone they were desperate. To have her rat. And we're offering all kinds of discounts and deals in free months and I was what's going on? Well. It turns out the big issue is the industry's gotten too big. According to industry data than number of storage places has gone up twenty five percent in about a ten year period and you look all around. Urban and suburban areas around the country in you see these much bigger storage facilities being built and many times at prime corners where they're visible Wada Times freeway exits, and so the industry has outgrown itself and then I I saw an eight M in the new. York Times. That Corona virus has made a difference and they don't really explain why they think corona virus has made a difference. My guess is that people are shopping less I mean one of the reasons people buy so much stuff is that we have historically had the greatest amount of retail square footage in the world three times larger per person than any other country in the developed world. So we Aben. Shopaholics, and is shared with you over the last several months. The amount of shopping doing has been going down down down. So if you have a storage facility. The you're renting at. I know it's a hassle to move your stuff. But go re shop what you're paying. You'll find potentially a much lower prices than what you're currently paying. You can go back to the people you're renting from and say, Hey, I'm going to bail on you because I found a deal. You know right down the street for half of what you're charging. And odds are they can't afford to lose you. And they'll offer you a deal to keep you

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