Education

Are We in Deflation?

Listening to Dr Peter Linneman's most recent podcast, he makes a dramatic point. We are in deflation if you remove housing, the CPI, and PCE (personal consumption expenditures). A gut check on this makes sense. Remember when egg prices went crazy?...

Bank CRE Loans Hit All-Time Highs

My first-hand experience with banks has me concluding that they are virtually shut down for new commercial real estate (CRE) loans, especially construction. Banks are not competing in a dogfight for deals. They can pick and choose what they want to...

The State of the Real Estate Market

Capital Markets

Restaurant Performance is Consumer Sentiment

Storage in 2024

The last four years have been a whirlwind for the storage industry. A rapid acceleration of fundamentals in 2020 and 2021—driven by a considerable increase in demand for storage—was followed by a notably softer 2022 and 2023.

Millennials Don't Want to Live Where They Can Buy

The chart below could be titled, “The Less Attractive the City, the Cheaper the Housing.” I don't see many stories about Millennials flocking to Cleveland or Pittsburgh. I have never seenONE! When people aren't excited about living in a certain...

Home Sales Hit Historic Low

The Wall Street Journal (WSJ) recently published an article highlighting that US home sales hit a 30-year low. We all know the reasons: high interest rates, new construction cannot keep up with the demand, and...

Self Storage Site Selection: Why does it matter?

Self storage is all about the fundamentals present in the local area. The average self storage facility in the top 50 markets contains just less than 55,000 net rentable square feet. With an average unit size of 100 square feet, it takes 490...

The Rebuttal to Doomsday Storage Headlines

It is easy to see year-over-year numbers go down for self storage rental rates and have the urge to “blow the whistle,” but what most articles do not take into account is the underlying business model that has protected self storage for the past forty...

Industrial, Multifamily, Self Storage Industries Stare Down Oversupply Issues

John Chang, with Marcus & Millichap, does a good job framing up the state of the self storage market. I'll summarize his main points, all of which I agree with: