USA - Self-Storage: A $38 Billion Industry

Arno Froese

Despite recessions and demographic shifts, few building types have boomed like self-storage lockers. In fact, they’ve proven to be one of the surest bets in real estate over the last half century, while malls, starter homes, and even luxury commercial space in big cities, once safe and steady investments, have struggled. Behind the combination locks and roll-up doors lies a $38 billion industry.

One in 11 Americans pays an average of $91.14 per month to use self-storage, finding a place for the material overflow of the American dream. According to SpareFoot, a company that tracks the self-storage industry, the United States boasts more than 50,000 facilities and roughly 2.311 billion square feet of rentable space. In other words, the volume of self-storage units in the country could fill the Hoover Dam with old clothing, skis, and keepsakes more than 26 times.

-www.curbed.com, 27 March 2018

Arno's commentary

For years now, we have seen these self-storage facilities sprout up around the country. Initially, they were just simple, sheet-metal buildings tucked on low-value real estate. But recently, we’ve noticed elaborate, climate-controlled warehouses, built on prime real estate, to store the nicer belongings of our Laodicean era: “Because thou sayest, I am rich, and increased with goods” (Revelation 3:17a). This reminds us of Jesus’ parable in Luke 12:17-18: “And he thought within himself, saying, What shall I do, because I have no room where to bestow my fruits? And he said, This will I do: I will pull down my barns, and build greater; and there will I bestow all my fruits and my goods.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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