A 10×10 storage unit costs less today than it did two years ago. A one-bedroom
apartment doesn’t. That gap is where this story lives.
I went looking for a rent bubble and found something worse: not a bubble that
inflates and pops, but a slow leak running for two decades. Self-storage street
rates fell year over year. Climate-controlled units fell in every top metro.
Developers abandoned 245 storage projects in a single year. And yet people keep
moving into sheds, vans, and units they legally can’t sleep in.
The storage unit got cheaper because we know how to build storage. The apartment
never got built at all.
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