How Self Storage Thrives Off The American Dream

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Information How Self Storage Thrives Off The American Dream

Title	:	How Self Storage Thrives Off The American Dream
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🛍Start your business today with a free trial of Shopify - go to wwwshopifycom/modernmba to learn morebrbrCorrection: The stat at 8:35 that 21 of Americans lived in urban areas in 1950s is not right - the correct number is 64 The subsequent statistic that 83 of Americans living in urban areas in 2021 is correct The underlying point remains valid as urban areas have had a significantly greater influx of Americans due to the necessity of work / clustering of industries This greater demand in turn has only further strained transportation and housing in urban areas Thank you to @samuelpenninga1468 for pointing out this errorbrbr0:00 More Space for Lifebr8:06 The American Dreambr11:55 Supply-Side Economicsbr19:07 Leader in Fragmentationbr23:40 A Lean Real Estate Startupbr28:04 Big City Money
Comment from : Modern MBA

Just what was this American Dream and who desired it was the American Dream ?
Comment from : Helm

I see homelessness all over this I call them homeless bins For some ungodly reasons people just can't bare to part with "STUFF" STUFF DOESN'T BREATHE IT DOESN'T HAS LIFE This way of business is tapping into one of mankind weaknesses and fear Why would anyone prolong the agony of losing their possessions by paying for it This is just a tell tale sign that more and more good regular people are going to be homeless And, trust me on this It's very unlikely that once that happens that those people will ever get back inside a home Which will lead to giving up on life in general Keep in mind also that the affordable housing is fading away just as well as sec8 housing I should know I'm Gary the homeless guitar player from Allentown pa I'm 58 and I don't expect to ever see my own place live I may bounce around and pay as I go But, the odds of me ever calling a place my own is no longer an option Only God knows what's good for me And, I have no problem being homeless It's blissful Because, we should all know that if you put false idols like stuff before God YOU WILL LOSE IT FOR SURE ALL OF IT!!!🤔😔🙏
Comment from : Gary Pavlick

I have a novel idea 💡: thin out your stuff so that you don't need a self storage facility No one needs that much crap
Comment from : Megan Greene

I don't have a garage and own a drop top car in the northern states A storage unit is a godsend during the winter Thats the only time I would use one
Comment from : SleepyKev

Are we going to discuss how people live here?
Comment from : Shirazeh Tabibi

Another fantastic video by the ModernMBA team! :)
Comment from : Douglass Richlin

Your argument about how Americans “have less space than ever” is fundamentally flawed When you reference 83 of Americans living in urban areas, that includes the suburbs In fact, suburban growth can explain almost all of that growth, as many city centers have experienced population decline in the last 50 years The share of Americans living in the suburbs has doubled since the 50s, moving from 23 to 52 In reality, the average American actually has more space than ever: in the 1950s, the average new home was 983 square feet Today, it’s 2400 Self storage is less about our ability to fulfill the suburban American dream and more about over-consumption and waste
Comment from : Andrew Padgett

Physical proof that many americans are just not too bright
Comment from : Night Ridah

I would believe what people will pay to store Broken appliance, unopened purchases from QVC, etc, toys from grown children Psychology students could write a graduate dissertations on what your store unit says about your state of psychological health
Comment from : Gloria Beckley

0:05: 🏢 Self-storage facilities in America are a booming industry driven by overconsumption and the need for extra space br4:56: 🏢 Self-storage has become essential in American society due to factors like downsizing, divorce, dislocation, decluttering, and the unfeasibility of the American Dream br10:05: 🏢 The demand for self-storage in urban areas is high due to limited space and the changing American Dream br15:33: 💼 Self-storage facilities are low-maintenance, profitable businesses that rely on automation and e-commerce br20:24: 🏢 Public Storage has achieved remarkable margins and revenue growth in the self-storage industry through cost control and automation br26:00: 💰 Public Storage facilities in high property tax states generate significant revenue, with the highest grossing markets being Los Angeles, San Francisco, New York, Miami, and Seattle br31:08: 📦 Public Storage strategically expands in the self-storage industry, capitalizing on market changes and acquiring underperforming assets brRecap by Tammy AI
Comment from : Lily

American hoarders
Comment from : John S

There's plenty of cheap available properties in America 🇺🇸
Comment from : Black Kat679

As someone who lives in a small apartment in the city I will never pay for a storage unit Get creative with your small space and storage options and get rid of the clutter and excessive materialism Also, not everyone wants to live in a suburban hellscape that is unsustainable, devoid of personality, and is hostile to anyone who doesn't want to drive a car literally everywhere
Comment from : tonytwostep

This was an outstanding presentation! 👏
Comment from : Kwann P

People should just have less stuff
Comment from : Jeffrey Seidl

The death of what? It's all was a facade With nothing behind it
Comment from : StarPer Gaming

In order for the points you make in this video to be valid one has to assume all storage units in the United States that are occupied are filled with personal items bought for the sake of consumption As you pointed out in your intro, people/businesses rent storage units for non-personal use (to store equipment, inventory, etc) The increase in storage unit rental coincides with the decrease in retail and commercial real estate leasing, which could be due to businesses choosing more affordable rental spaces for their needs (this is why I rent one, to hold inventory) Every point you make in this video is moot simply because it doesn’t take into account the business use of self storage in the USA
Comment from : Maggie_D

I dont know how people have so much stuff to storage
Comment from : IM NUGGET

Yeah go get that Storage unit the cockroaches afraid 2:02
Comment from : Jett Schenker

Self storage can be a much better investment than residential because of higher return per foot assuming the percentage of rented units is sufficient to make a decent profitbrSelf storage offers the advantage of easy eviction for nonpayment, the possibility of profits from items left behind, which can be a two edged sword if the items are garbage and need to be disposed ofbrAnother benefit of self storage is the fact that the owner does not have to provide the amenities necessary for residential The down side is their needs to be people to do the work of customer service and maintenance Also all HVAC needs needs to be paid by the owner which can be quite costly in larger structures
Comment from : Charles Philhower

And public storage are taking advantage of the situation by putting up all this prices every 3 to 6 months And not only that, they're stealing people's belonging Cause it happened to me at Miami Lakes Public storage by the property manager
Comment from : Carlos Alen duran

My whole European flat is smaller than some of that units We don't buy as much in the first place and throw stuff away
Comment from : LockedOut

0:30 what in the actual fuck is that gate
Comment from : Ian :v

I have very small storage units at different companies I have climate controlled units With a self devised frame I created 2 level spaces in a 5x5 unit In one unit I keep things that I cannot live withoutdocuments/pictures/tax recordsthat I don't keep in a safety deposit box because banks have limiting hours Also if a bank fails the contents become the possessions of the bank I use a totally different company for a 2nd small unit for off season clotheslesser important things like some vintage items If I can't afford the units, I'll let the 2nd one go I use storage units to keep things in anytime I need to add a roommate and want to avoid preying eyes or theftespecially ID theftI also choose a space that allows for 15 vehicles to park insidevery important in Minnesota in the winter! I pay $30 a month My homeowners insurance covers my contents
Comment from : J K

I used to be a hoarder and had my fair share of self-storage to filling a two-car garage Now, after moving 3,000 miles, my storage is my closet and everything I own is in my room I vowed to never have a self-storage ever again and any downsizing involves donating when I can or throwing away If it becomes out of site, out of mind, it's getting donated
Comment from : quietinthedark

The American dream has died only in the imagination of left-wing nutjobs
Comment from : A

glad I discovered this channel Great info!
Comment from : Harry Mundy

I only had to use one once I moved out of my apartment back in with my parents while a friend closed on a house and was waiting to get the keys for me to move in as I had almost all the furniture we'd need at that time
Comment from : Rich Born

Public Storage refused for pay for destroyed art due to their roof leak, other than the cost of supplies used to make the art…
Comment from : morto Vivo

Can still afford homes just in states with limited job opportunities
Comment from : JOHN SIMON

You said America over consumes NO Europe under consumesbrPlease don't bad mouth the United States of America
Comment from : chuck H

My MiL is the only person I know who has had a storage unit - sometimes more than one- for many many decades She is a terrible combination of a hoarder and likes to move every six months This has nothing to do with death of the American dream She chose that lifestyle She doesn’t want to live in one place very long
Comment from : BusArch42

Was this video created by AI?
Comment from : drtij_dzienz

If you’re reading this, know that you are worthy of anything you desire Most times it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word I have understood a lot in the past few years that there are lots of opportunities in the financial market The only thing is to know where to invest
Comment from : Debbie

I've had a small storage room for years, holding things for "when I die," hoping my daughter would want the stuff She has told me she doesn't Last week, I emptied that storage room and brought the stuff in to sell, and I've discovered that I have a few thousand dollars of antiques and art So, now, FB Marketplace, etc, here I come!
Comment from : Ancient Pollyanna

I haven't finished watching yet, but I'm glad that I unexpectedly came across this video To put it into perspective, I have an old friend of mine that pays north of four hundred per month to store almost a ton of dust-collecting junk that isn't worth fifty in one of these self-storage places I can't and don't understand why (shaking my head) haha
Comment from : Josh H

Lol mlm
Comment from : Nancy Smith

We no longer have the American dream bc of this 2 🤡
Comment from : Mr Smiley

Lol! You can list a list of 5 or 10, and even more but the one real reason is that 90 of consumers just like to hold on to useless S#T and until we can quickly control our emotions and just realize all junk isn't valuable or no valuable enough to lock it up and pay for it, we'll continue to lose unnecessary money Stop holding on to crap, PERIOD!!!!
Comment from : tony grate

Biggest expense on the list is property taxes
Comment from : Praveen Sriram

$10 in 2008 is worth $1380 in 2023 That is a huge inflation rate
Comment from : Praveen Sriram

1) death of a loved one ☝️ br2) downsizing br3) Divorcebr4) Dislocationbr5) Decluttering
Comment from : Praveen Sriram

There are so many self storage facilities in the Triangle (Raleigh Durham, NC) It is sad that people own way too much stuff The amount of stuff Americans owns is ridiculous
Comment from : Praveen Sriram

Funny how this just randomly came up, after tons of storage unit companies are popping up in my neighborhood
Comment from : The Real Fitzgerald

They got land tho…
Comment from : Talon Abuser

American dreams died when people chose Biden over Trump
Comment from : Ryan

this person is a little stupid huh? cool video tho
Comment from : Andrew

No! Just because I got married, my stuff doesn't belong to her! The law may see it that way, but it's wrong! I bought that, so it's mine! That's why you keep separate estates (or - my prefered option: DON'T GET MARRIED!)
Comment from : DreamingFlurry

That's why you don't get married - simple as that!brNo, it's not "romantic" (a candlelight dinner is romantic, a first kiss in the rain under a streetlamp is - marriage is not! It's a contract basically and it was never meant for love! Even small time peasant farmers once upon a time were married for convenience only, love played no role!)it's even less romantic if you have my background:brKid of divorced parents (that divorce happened before I had my second birthday!) and I've done a stint as an intern at a family law (so divorces, child-support, alimony, domestic violence etc) specialist lawyer (and I've red some of the files, both current files and files from the archive (I often had to transfer files to the archives for my boss) and some of the worst files were divorce files, especially if there were children in the mix and a lot of money!)so yeah, I'd rather go to prison than get married!
Comment from : DreamingFlurry

I have never understands paying rent for something you don't used or need
Comment from : Samuel Colon

There's a new industry leader now!!!!😂😂😂😂😂😂
Comment from : Stephen Wheeler

It always kills me how many storage units have had thousands of dollars paid in rent just to store something like an old 1970's stove not worth $70
Comment from : mcsomeone

Feminism killed the family That’s the main reason of deterioration of society
Comment from : Александр Травкин

Ugh i remember going through this when i got down bad It got too expensive now all my belongings drive around town with me
Comment from : Desmond Joyner

5:44 im confused about this comment Isn't the entire point of drop shipping that you have no inventory on hand and you're relying on a third party to produce and ship the item for you?
Comment from : Nanook128

stuff stuff stuff pain in the neck
Comment from : Ching lan Lie

I can't believe the revenue numbers, there is no way each year public storage is bringing in that much money, if we take the lowest revenue of 16$ billion, solely rental income 94 of total revenue of 2008, if you divide that by 356, everyday Public Storage is receiving 45$ million dollars for simply charging people money to put things on their land
Comment from : Salli

This hoarding phenomenon is solely American-Nowhere in the world people hoard so much stuff I am not from the US, but I lived there for 20 years, and I was always overwhelmed by the amount of stuff Americans have, and how much they shop
Comment from : Julia Huff

place just sits there and makes $
Comment from : Chris Lapp

I can think of a use for at least some of these facilities Rent the spaces out as workshops for hobbiests that lack the room due to living arrangements Potters, hobbiest machinists etc
Comment from : mpetersen6

Americans are slaves to consumerism and their cars, far from land of the free, though they don’t seem to realise this
Comment from : David

It's so common to see storage facilities fully rented out where I live, so new ones are constantly being built I rent two units myself, one in the town where I live, one where I'm moving to I'm currently staying with a relative and don't have space for my stuff I didn't mean to have this much stuff and will force myself to get rid of it once I have my own place, but for now it's an issue that snuck up on me and took me by surprise I genuinely hate it because I can't move farther away until I deal with this
Comment from : StarryRoses

More more morebrConsume till you need morebrThe American dream is gluttony
Comment from : Nick Cirillo

in europe we go these things called garden sheds imagine having a storage locker sometimes bigger than anything pictured here in you back yard! accessible 24/7, just seconds behind your back door and instead of paying $50 a month, you pay $300 once and it's there forever! shocking, right? 😲
Comment from : Alex Nicolaou

I’m sorry I love your videos but this one completely misses the mark
Comment from : Dustin Kaid

12:45 retail isn't dead in europe yet! malls in europe are thriving Can you make a video about why that would be?brI don't have hard evidence, but I suspect it has to do with the car culture in America and in contrast the more transportation options, proximity and pedestrian friendly neighbourhoods in europe
Comment from : Maarten

We are Americans…we finance and pay interest on cell phones that lose value faster than a vehicle…and don’t forget the watch too because why not
Comment from : Adam Kostowicz

#RFKJr2024
Comment from : Adolfo Rosado

i feel like you're yelling into the mic on this one
Comment from : Daniel Corich

I hate these self storage businesses I had an ex who was a property manager for a self storage building The way he talked about buying and reselling people's lost items was gross and cold hearted Half the buyers were personal friends of his he told to buy at cheap prices and he'd resell it for very high prices Laughing about it calling the people stupid and dumb
Comment from : Hagia Fantasia

Storage units have their use and functionality in this day and age, but one can see how it is an easy trap for hoarder typesbrbrI do have two units that I utilize, but they are primarily used to store specialized equipment and tools that are either not sold or not available locally, are expensive, seldom see use but are very convenient to have on hand when needed, or otherwise have an explicit purpose whether immediate or some time in the futurebrbrThere are also times when people who run some form of sideline or supplementary income need but do not have space to put things like spare parts and components in, or raw materials in the case of the crafting trades like woodworking or machining, it is a convenience as well as a form of ‘peace of mind’ that said items that more often than not are not available locally or are expensive as hell are in a safe locationbrbrAlso, both units that I use have a list and log of what is in, where it is, how much of each and each item’s state and condition (usually projects or spare/replacement parts for repair and restoration jobs) Additionally, if they are packaged, there will be a label identifying the contents for easy storage and retrievalbrbrNeedless to say, not only has it saved money, it (or rather, the items stored in it) also either makes me money, or helps me make money, and it definitely earns exponentially more than the storage rental cost per month
Comment from : Zed - Sin Archbishop of [Defiance]

While trying to find a house in Florida my scumbag public self storage charges $481 a month for a 10x30 that’s been broken into twice within a year
Comment from : Darth Waffle

In Germany we have something called a basement under our brick houses 😂😂😂 even the biggest apartment complex has a basement with storage space for every unit
Comment from : HomeHaunterGermany

They are full of rodents and roaches Human waste and get broken into daily
Comment from : geekarobertson

You will own nothing and like it
Comment from : Manic Static

Private Asset
Comment from : J

If you need a warehouse to store things, it means that you have a lot of things or a very small apartment
Comment from : PurPur

I feel called out I just want a building with ground-level access
Comment from : bzacon

Don't own more than you have tobrCarefully calculated investments excluded Invest in people, not stuff
Comment from : Tuvoca

I live in queens, New York and I have a self storage space in Long Island city, a 10x 5, for $269/ month…which is still not enough, I need a bigger one! And I live in a 2 bedroom apartment , just my son and II have so many clothes and purses and shoes, it’s so ridiculous! I still keep buying…I have to seriously de clutter and donate a lot of my stuff, which I don’t even use anymore!
Comment from : Janice

My old band used to practice in a storage unit There was one place in the area that let bands rent them out We would turn them into practice/hangout spaces There was a whole community, it was awesome We used to even have "open practices" where friends and fans would come and hang out for a few hours, party and jam out Miss those days
Comment from : K K

Walmart is my storage facility
Comment from : Vanraj Sindha

If you need a storage placeyou have too much crap
Comment from : Anthony Bha

Still better than having land be a parking lot
Comment from : JellyFace2

No, no american dream became true This is it!
Comment from : JellyFace2

If you are rich you got the American Dream,if not suffer and be homeless
Comment from : Allan jelen Jelen

Anyone who wound wear masks while loading up their own self storage unit has some serious issues
Comment from : CopperStacker

Until you can get a residential permit, ya build a storage dump That’s it Done
Comment from : Hold and Modify

In an age of shortages of just about everything, renting a space to store unneeded junk is just nuts Consumerism outlived its crooked purpose
Comment from : Anthony Tolhurst