The panic many Americans face when saying goodbye to their belongings is creating a popular market for real-estate – Irvine, California-based commercial real-estate watchdog, Green Street Advisors, stated in their August market summary.
According to the report, self-storage yards are booming because a large percentage of Americans cannot finance spacious rental living arrangements. This trend may be due in part to a loss of fortunes from the recession and the inability to afford a permanent residence. Those who cannot afford a spacious home need somewhere to put there things, and therefore many turn to storage units as a solution.
The value of self-storage property has gone up by 18% in a year and 57% above its August 2007 peak, Green Street’s index showed.
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