Less is more was a 70s concept, not new at all…Boomers weren’t materialistic back then when they had nothing…Then they accumulated more shit than anyone in history…Manch is right…Besides stuff is cheap and easy to accumulate. .and hard to get rid of…
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But you just said it, if things are cheap why would you pay to store worthless junk offsite??? No way, in heck!!!
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Tons of people make totally irrational financial decisions every day. That’s why despite US incomes being some of the highest in the world, 69% of households have under $1,000 saved. Irrational financial decisions are actually the norm. It’s rare people make good financial decisions.
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Are you planning to invest in offsite storage facilities as a long term strategy? Yes or no, please.
Jeff bezos becomes the richest person in the world by doing what? Giving us crap at lightning speed. Millennials are every bit as materialistic as older generations.
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Well, where is our Ms. @harriet to chime in? Probably shopping at a brick and mortar store so that she can then store that sheet in a self-storage facility… I don’t think so!!!
I agree self storage is irrational. .But I have and still make big money off of self storage and self storage Reits are doing very well…Plus the hidden benefit is land banking…Most good self storage buildings are in prime retail locations. .The land keeps appreciating plus high cap rates…whats not to like??
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@Elt1, you have obviously done it and made money. No one can argue about that. My point though is down the road will self-storage facilities and its ilk like shopping malls stay relevant? I am questioning that based on what I am seeing. The things mentioned about disposal this and that. People, especially millennials being more mobile and using or retaining less physical stuff. All these things directionally point to fewer usage of self-storage facilities. Yes, you made tons of money, I get it, but probably from the current older generations like the Baby Boomers and the following few generation classes but these generations are slowly turning the world to the younger folks and their values are very much different. Their practices and lifestyles may contradict what you and I are used to.
I dont like stereo typical millennials, just like I didnt like the typical hippie wackjobs of my generation. .Like Manch, I doubt if millienials are much different than previous generations. .They will marry , have kids and will need storage. .especially since they will be living in smaller homes…
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I wouldn’t automatically rule it out.
I’ll take that as a resounding NO…
Someone tell bezos his little website is in deep trouble. Apparently the younger generation are not into buying stuff.
My friends just donate their old stuff or throw them away to make room for new purchases. Personally I’d never pay for self storage, nor do I think my friends will. Minimalism is BS. It’s just a way of self glorification for some people pretending to be cool.
See, a millennial just reiterated what I have said and seen. Obviously, anybody’s home will have some storage space (so they will keep some stuff there) but to think that future generations of people who are already pressed for housing and cash will want to pay extra for essentially what is rent for junk is just not happening. Or it’s not happening to the degree that the return will be anything like it has been with older generations. Get with the times people. Oh, I forgot, OB1 likes to still pay bills by actual checks and stamps via snail mail. OMG…(smh)
Younger people have less stuff. Will millennials have more stuff when they turn 50? I bet they will.
There was a therory that millennials was all about walk score and don’t care for the burb. Guess what. Suburb is still growing faster than cities. Turns out walking home with two heavy bags of grocery is not as chic and romantic as you see in the movies.
When in doubt bet on human nature.
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Always good to stick with the middle road.
In the stock market, buy shares of companies. Commodities, precious metals, options, bonds can be tempting but at the end of the day nothing beats good old shares of stock.
In real estate, buy residential properties. Commercial, storage, reits, crowdfunding might be tempting but at the end of the day nothing beats a good solid rental.
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Middle roads can mean mediocre though.
Well, if you go back to your own initial chart, what I said is true. You may have done better, but who is to say that you would have survived 2010 to laugh about it? Steady, consistent singles and doubles are much better than swinging for the fences all the time and striking out a lot, no??? I seem to recall you saying that too…
You must be heavily invested in self-storage facilities or something. Why else would you push them so hard? It would be like me pushing for the Pony Express to come back. Yes, we want our mail delivered to us, extra slow. Yes, that’s it. Why? I don’t know, but I know it is best for our country. Bring the Pony Express back, I tell ya!!! And while you are at it, bring back home delivered milk and take away those ATMs. We miss waiting in line at the bank for every kind of transaction!!! Unbelievable…
This group doesn’t understand the typical self storage tenant…They make about $40k, live in the sub and exburbs and many are Latino…Mostly working class…Do their own moving…Not techies or landlords
I thought you thrive on mediocrity. You’re only investing in mega cap companies with little room to grow…