The Next Economic Downturn Will Your Self-Storage Business Be Prepared?

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Since the 2008 Great Recession, economic expansion has been the longest in U.S. history. Many were caught off guard by the timing and severity of such a deep downturn, and although self-storage fared much better than other real estate sectors, it did take a hit in occupancy and had difficulty in raising rental rates. Some stores just could not survive, and banks foreclosed.