The post World War II Baby Boomer generation has rolled through the decades like a large wave, causing economic and social changes from its sheer number of people – almost 80 million strong. Self storage investing is likely to spike as another large life event, death, begins to filter through the Boomers. Morbid? Perhaps. But we all know the two certainties in life and one of them is not taxes.
How will the spike in the coming number of Baby Boomer deaths from the natural cause of aging be felt in the self storage investing industry? Some self storage owners are already feeling the ripple of increased need for storage from Boomers’ sons and daughters who have recently gone through the estate settlement of a loved one. Many of us don’t have the room to put another whole household of stuff in our own home while we decide what to keep, what to sell, and what to parcel out to distant relatives.
What are you going to do? Turn to self storage, of course.
Well known economist, Ben Stein, summed up his view of self storage investing in a keynote address to the Self Storage Association Conference and Trade Show:
“I can’t think of one single long term trend in our country and our economy that doesn’t benefit self storage – It’s the perfect storm – a Hurricane of Profits. This is the sweetest spot in the whole American economy; a receptacle for an enormous cascade of money! The opportunity in self storage right now resembles the opportunity in the oil industry in the 1950’s or Silicon Valley in the 1990’s”
Strong words from a man who has spent many years studying stuff like this. We at MHPListings.com think he might be right.
The MHPListings Team
Flickr / madLOLscientist