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  1. #1
    jcarlisle's Avatar
    jcarlisle is offline CM Emeritus, Reg. Member
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    Default Stock Market Down 500 Yesterday

    The DJIA dropped ~500 points yesterday. There was a slight morning rally after a fairly good jobs report came out, but now it seems we're actually going lower than we went yesterday.

    The factors that caused the big sell-off yesterday included European financial wrangling & bond-buying, in addition to likely investors' discontent with the recently reached debt-ceiling deal.
    John Carlisle
    Community Manager Emeritus
    Still a Big Fan of Self-Storage!
    www.chicagoprowriter.com

  2. #2
    Amy_ISS is online now Community Manager
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    Default Re: Stock Market Down 500 Yesterday

    Do you fear another recession? What does this mean for your facility? What do you think it means for the REITs?
    Amy Campbell
    Editor
    Inside Self-Storage
    amy.campbell@informa.com

    @AmyCampbell_ISS

  3. #3
    Tall Terri is offline Senior Member
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    Default Re: Stock Market Down 500 Yesterday

    I don't fear "another" recession because we haven't really come out of the "FIRST" recession. Who here has done better financially for themselves since it first began? Seriously - did any of your bills lessen? Did food costs and fuel costs go up or down for you?? Did your Cost of Living raise put you in a better situation - um did you GET a Cost of Living Raise?

    I believe what this means for the facility is more move ins due to downsizing, evictions, and abandonments. Probably more auctions for people that just walk away. Can't blame them. One can live without a couch, but you can not live without food and water. Stuff can be replaced when you need it again.

    Just saying - thank you for letting me spout.....not meant against anyone - just my gut talking...........
    Tall Terri

    Murphy was an Optomist!

  4. #4
    Amy_ISS is online now Community Manager
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    Default Re: Stock Market Down 500 Yesterday

    All good points, Terri.
    Amy Campbell
    Editor
    Inside Self-Storage
    amy.campbell@informa.com

    @AmyCampbell_ISS

  5. #5
    jcarlisle's Avatar
    jcarlisle is offline CM Emeritus, Reg. Member
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    Default Re: Stock Market Down 500 Yesterday

    There's a lot of evidence that says self-storage is a safe investment. Honestly, a high-risk financial climate might be good for the self-storage REITs. Investors might want in on the self-storage action because it's a relatively safe investment.
    John Carlisle
    Community Manager Emeritus
    Still a Big Fan of Self-Storage!
    www.chicagoprowriter.com

  6. #6
    Madman's Avatar
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    Default Re: Stock Market Down 500 Yesterday

    Band-aid on broken leg equals = long term pain.

    There's no easy way out of this for anyone. Unless you're sitting on a pile of gold.

    Q3 (quantitative easing 3 is coming) and I'm guessing close to another trilion on the pile when BB announces.

    Check out the commodities massive reductions in the last few days too.

    The EU is going to get a bigger round of what NA just got too ...


    All that said, it's business as usual. It's important to focus on community and work positively with one another and support your peers and friends as best you can.

  7. #7
    Madman's Avatar
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    Default Re: Stock Market Down 500 Yesterday

    Quote Originally Posted by Tall Terri View Post
    I don't fear "another" recession because we haven't really come out of the "FIRST" recession. Who here has done better financially for themselves since it first began? Seriously - did any of your bills lessen? Did food costs and fuel costs go up or down for you?? Did your Cost of Living raise put you in a better situation - um did you GET a Cost of Living Raise?

    I believe what this means for the facility is more move ins due to downsizing, evictions, and abandonments. Probably more auctions for people that just walk away. Can't blame them. One can live without a couch, but you can not live without food and water. Stuff can be replaced when you need it again.

    Just saying - thank you for letting me spout.....not meant against anyone - just my gut talking...........
    I gotta say that things looked quite concerning on my brief visit to Florida recently. I only got to Orlando and Titusville but man I felt for everyone there. That said the people we met were awesome.

  8. #8
    Mel Holsinger is offline Senior Member
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    Default Re: Stock Market Down 500 Yesterday

    Quote Originally Posted by jcarlisle View Post
    There's a lot of evidence that says self-storage is a safe investment. Honestly, a high-risk financial climate might be good for the self-storage REITs. Investors might want in on the self-storage action because it's a relatively safe investment.
    Sorry John, that may be what some people are saying in order to keep generating interest in buying/selling self storage units but the fact is, they are NOT SAFE investments. With the economy in a tumble since , o gosh, I dont know 2008, people have changed their priorities, gas has gone from $1.70 a gallon here to over $3.40, food prices have gone up over 16% since our new leader has taken over, unemployment went from under 5% to now over 9% and even that is low as the actual is somewhat closer to 18%, how many new jobs have been created that actually contribute to the economy(ie, not government jobs), and the reality is, people do not have to store they choose to store. We have seen a steady decline over the past 3 years and yes, some markets are still doing ok and even well but I think the days are long gone when ownership of a self storage facility was considered safe.

    If you are one of the many unfortunate ones to have suffered a job loss, loss of real income( we all have just see above with gas & food prices) or even worse and you had things in storage that were costing you x per month, understand you will no longer pay for that but will continue to put gas in your car and hopefully feed yourself and your family.

    Very frustrating seeing all the real economic hurt and pain and then know that we could immediately create jobs if the Feds would allow us to drill ( ie gulf, Alaska, etc), if they would stop adding new costly regulations( anyone understand the real cost to employers of the new so call health care bill), if they would just enforce our already in existence immigration laws( and yes I believe in legal immigration) that costs us millions to even billions in health care, unemployment, education, etc because of all the ILLEGAL people in our country, figure out what the heck we are really doing in Iraq and Afganistan and quit wasting our troops lives and our money, win the damn war or get the heck out, quit sending an enourmous amount of money to countries that do not even like us(Pakistan, for starters) for foreign aid and I could go on and on.

    Now, if the economy does turn around, hopefully the self storage facilities will begin to improve and we can do away with discounts, reduce our delinquents and actually start to improve again.

    Sorry to rant but damn I am angry watching this wonderful country go to such waste and see NO leadership in government from the President on down through all levels of Government, to seeing the corruption in government, to see the middle class shrinking and to see the number of people on government assistance of some sort now in the 40% range.

    To know that 47% of the population does not contribute to our tax rolls yet they receive all kinds of aid, many deservingly so but many not so deserving and knowing that this is just going to continue to increase unless we wake up soon and change this course of action now.

    This is just disgusting.
    Mel Holsinger, President
    Professional Self Storage Management, LLC
    3434 E. Kleindale Ste. E
    Tucson, AZ 85716
    O: 520.320.9135
    F: 520.320.9435
    www.proselfstorage.com

 

 
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