General Question

tinyfaery's avatar

In light of the current economy, what is the fate of the public storage business?

Asked by tinyfaery (42662points) April 26th, 2009

I have always had such disdain for public storage, in general. I have used public storage during moves, when I needed a place to store large items while I found a permanent place to live, but the rental never lasted more than 4 months.

I always thought that public storage sites were a symptom of American excess. If you have too much stuff, donate it, sell it, give it away. Why would someone just lock-up a bunch of stuff they obviously do not want around their houses, for years on end? And, spend $ for a lock so no one can steal the stuff you do not want?

Is public storage on the way out?

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10 Answers

oratio's avatar

Removed by User out of context

jrpowell's avatar

The public storage business should be booming right now. People need a place to store stuff when they foreclose on your house.

I’m assuming your premise was that people are buying less crap so they have less to store.

Judi's avatar

I think it’s booming too. I also hear that some real bargains are to be had on craigslist for furniture, due to foreclosures. It’s sad because you can’t really get top dollar fir good stuff because no one is buying. My daughter got a beautiful coffee table and end table for $60.00 and they even delivered it for her!

tinyfaery's avatar

So, if you can’t afford your mortgage you can afford to pay hundreds of dollars in storage fees? Wouldn’t it make more sense to sell as much as you could for liquidation purposes? I hear you on the cheap furniture? I bought a washer and dryer that was 5 months old for $1000.00. New price $2300.

casheroo's avatar

Well, we might be getting a storage unit soon. Only because, we’re moving into my parents house…there’s no way we can fit all of our furniture into their house…why would we need two dining room sets? So, I guess ours is justified. And our move is fueled by the shitty economy, so guess the economy is helping the storage business, in our case.

buster's avatar

Businesses will still use storage units. Doctors and lawyers accumulate tons of files. Older ones often end up in storage. My father and grandfather have a construction business. Both have garages full of tools and materials. They simply have no more room at home. They also have storage units full of tools. Also they have leftover and bulk material purchased at sales and auctions in the units. This includes, hardwood flooring, tile, vinyl replacement windows, and other things.

The_Compassionate_Heretic's avatar

I’m this economic climate people are looking to cut costs and storing your stuff in a facility like that is just another monthly expense. I think people might simply their lives by selling the things they don’t need.

jrpowell's avatar

@tinyfaery :: If your mortgage is 2K per month and you don’t have to pay it anymore $200 per month is a drop in the bucket to keep your stuff safe until you find a new place.

tinyfaery's avatar

@jp I thought I said that using it for a few months wasn’t an issue.

jrpowell's avatar

@tinyfaery :: And I totally missed that you were the person that asked the question. I was responding to this.

You can only sell stuff for so long. Eventually you are probably going to lose your house. Selling your stuff to postpone the inevitable seems like a bad idea. Toss the shit in storage and get a cheap apartment.

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