Self Storage Declining during Coronavirus

[Ari S.]

Self Storage has always been touted as recession-proof but data is showing people are spending -50% less on it since Coronavirus quarantining. What do the experts in this space think? Are folks deciding to cancel memberships or monthly subscriptions they don't need now? We've cancelled Gym and others to save costs.

Interesting article below to show where spending is going in the first months of Coronavirus quarantine in the US

https://www.nytimes.com/interactive/2020/04/11/business/economy/coronavirus-us-economy-spending.html