The Economics of Everyday Things 45. Storage Units
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Apr 22, 2024 
Guests Zachary Dickens, Anne Mari DeCoster, and Kara Kolodziej discuss the $45 billion self-storage industry in America. They explore the reasons for renting storage units, operations and economics, diverse use cases, nuances of auctions, and the economic viability of storage units. Real-life stories include valuable discoveries like a car from a James Bond film and handling cremated remains.
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Kara's Storage Needs
- When Kara Kolodziej experienced a breakup, she needed extra space for her belongings.
- She rented a storage unit, a common solution for those facing downsizing or life transitions.
Self-Storage Boom
- High housing costs and increased consumerism have fueled the self-storage industry's growth.
- This has made it a $45 billion industry, attracting real estate investors.
Covered Land Play
- Early self-storage facilities were initially a land investment strategy.
- Entrepreneurs bought cheap land, anticipating population growth, and used storage units as a temporary income source.