A major sign that we're nearing the peak of a bubble econom…
A major sign that we're nearing the peak of a bubble economy...
How many self-storage businesses are there in your area, and how many new ones are being built?
They are all over the place in recent areas I've visited.
Replies
Not conspiracy theory at all.
Self-storage places are currently profitable. Why? It's stuff that's NOT being used. What does that tell you about the state of the economy?
It's a fascinating example of "overconsumption" and "overinvestment" meeting.
This sounds a little like a conspiracy theory ;)
*Gets Blocked*
Jk im kinda a conspiracy theorist and this tweet has me a little spooked..... But i doubt they really know whats gonna happen. I wonder what Trump meant with that tweet about FED stuff.
When people start living in them, I will start freaking out (read Snow Crash)
I think i misunderstood you, Was thinking you meant like a bunch of extra storage space for when people lose thier homes and gotta store thier stuff. Im dumb sometimes.
@887 I am talking about storage locations, but they're being used now. It's not that they're going to be used when people lose their homes (though they might, that's not my point.)
In East Vancouver some of these newly constructed storage facilities have beautiful and unobstructed views of the mountains (albeit including "activity" views of the port but still better than the majority of residents enjoy). Sad.
Isn't it interesting that it is more profitable to use these plots of land for storage of unused things that can't fit in crowded homes than to create more homes.
That could also be a zoning issue, but then, why aren't they different businesses instead?
Seems like an overpriced homes/ zoning issue, everyone would rather store thier own stuff where they live.
If it's a zoning issue, why is it that storage units are consistently being built across many metropolitan areas?
The only explanation that makes sense is that there is a current demand for them.
Why?
Zoning and general housing construction approval process issues are a big reason rent and house ownership so crazy expensive in a lot of places.
I mean it makes sense there would be demand for em as long as people dont have enough room to store thier own stuff, so I'd expect them anywhere with messed up housing markets. But more a rent and mortgage being crazy expensive thing than too much stuff.
There are multiple potential reasons why people have too much stuff for the room they have available.