What Cooling Inflation means for Self Storage
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- Опубліковано 15 січ 2024
- The Fed chair Jerome Powell decided to stop interest rate hikes. It's in the news, it's what's trending - but is it accurate? If so, what are the effects on storage?
The potential rate drop creates a weird dichotomy. Despite wanting GDP to drop, and for unemployment to rise, the Fed changing its tune is surprising. Recessions are the most effective way to stop inflation...when it works. It's also an election year: historically, the Fed has only changed rates once before an election. It threatens the politics involved, and they want to step back.
If they're going to do something, they have to make a decision quickly.
In self storage, this affects more than just the price of a storage unit. This can hit maintenance costs, building/renovations, staffing costs, advertising, and much more.
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Very interesting, but makes sense why the Fed will probably stay and not do anything. It us an election year and need to remain independent. Hopefully, rates and sentiment will stabilize and create more opportunities. We will see, never a dull moment these days.
Huge value as usual, love episodes like this. Thanks!
@thehardyjake - Glad you found it helpful! What subjects are you interested in for our next video content?
@@SelfStorageIncome I'd love to know some different marketing strategies you all use for your facilities (internet marketing, social media, mailers, etc.)