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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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