The article in the New York Times is about American self-storage, a storage facility in New York City. The facility has benefited from the recent housing boom, as those moving have been in need of temporary space to store items nonessential to their adjustment to new living conditions. Many people who upgrade move from larger apartments in decent neighborhoods to smaller apartments in better locations. It’s become somewhat of a trend lately, and has allowed for storage companies such as American Self Storage to flourish. However, execs did mention that they have become more cautious. A burst in the real-estate bubble – as has been predicted – could very well topple them. So although American self-storage is expanding, they’re doing so incrementally.
I tend to believe in a more cautious approach. Though hypothetically, now is the time to capitalize on market wealth, it’s also a time to reconsider the market’s stability. It’s a bit of an unhealthy balance at the moment and the American self-storage industry is taking it in stride.
-Matt Shapiro
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