01 Apr 2024
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Real estate
Storage likely to remain an outperformer
Melissa Reagen sat down with IREI for an exclusive discussion on the ongoing lifecycle changes that have created persistent demand drivers for households needing self-storage. A big reason for the historical outperformance in storage has been the demand drivers of storage, which tend to be lifecycle events — getting married or moving, the birth of a child, a climate disaster, divorce, or any life-changing event drives the demand for self-storage. Whether or not the economy is in a recession, the demand for storage tends to be there. That doesn’t mean the sector is immune to anything happening in the economy. Of course, it’s not. But storage is a little bit more insulated because those life-changing events are happening all the time, and this dynamic helps storage outperform.
Whether or not the economy is in a recession, the demand for storage tends to remain.
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