Self Storage, Senior Housing Drop to Lowest Levels Since 2014
Updated: Feb 7, 2020
Self storage occupancy suddenly falls to lowest since 2014. Senior housing has been dropping for 2 years. As more building continues, no signs of changes in sight for either.
(Disclaimer: I'm not a financial advisor, accountant or attorney. Consult your own financial and/or legal advisors before making any investment or legal decisions.)
"What could possibly go wrong?"
The pitch-deck for that shiny new self-storage facility looks so convincing. Many self storage facilities held up really well to the stresses of the last recession. So it claims that makes their investment "recession proof" going forward and it'll do well no matter how the economy does. Or at least, that's the way the narrative goes.
To those who buy this story, the latest reports from REIS (a real estate data company) may be quite a shock. 2017 occupancy rates across 50 metropolitan areas have deteriorated and decreased back down to the levels of 2014.