Ryan Gibson explains how major life events drive self-storage demand. During COVID, people moved, quit jobs, and traveled in RVs, pushing occupancy rates and rental prices higher. The same pattern has repeated across the last four or five recessions.
I think it's the best place because it depends on life events and life. When life events happen, self-storage is a beneficiary of that. And when COVID hit, that was a great example. Everybody moved, everybody resigned, everybody moved into an RV and traveled, or people moved across the country or decided that they didn't need to work in a downtown metropolitan. Any place to put their junk. Yeah, but they, yeah, they had to, they had to get going. So places filled up and, and store occupancy increased and Likewise, rental rates increased significantly. And so we've seen that play out over the last 4 or 5 recessions.
