September 17, 2010 4:53 PM
The U.S. Senate passed legislation yesterday designed to make it easier for small businesses to create new jobs. The bill is called the Small Business Jobs Act. It was passed in the Senate by a vote of 61 to 38 and is expected to be passed by the House of Representatives, and signed by President Obama, next week as well.
According to the national Self Storage Association, about 90 percent of self storage companies are owned by individual entrepreneurs who each operate just one self storage facility. In the United States today, there are around 27,650 self storage owner/operators who own and operate one facility each. Will the Small Business Jobs Act help these self storage business owners? [More]
December 30, 2009 7:32 AM
The Wall Street Journal this morning predicted a much more stable real estate market for 2010 than the wild ride the market took investors for in 2009.... the WSJ reports that the Dow Jones Equity All REIT (Real Estate Investment Trust) Total Return Index is up 31% this year, which means that it has improved over its 2008 performance, when it was down 38%. In 2009, the real estate market showed its strongest performance since 2006. It even outdid the Standard & Poor's 500-stock index, which posted a 25% return. "It's been very much a roller coaster ride this year," noted Goldfarb. "And we're about to end this year on a high note."
....Lucas told the WSJ that he expected self-storage to be one of three types of REITS that will outperform the rest of the market (the other two are industrial and student-housing REITs). Self-storage can be expected to do well because it does not depend on the creation of new jobs. The recession has been less damaging to the self-storage industry, in general, than it has been for other real estate businesses. According to Inside Self Storage, this is partly because self-storage owners use 30-day leases, and therefore have the flexibility to change their rates immediately in response to changes in the market and to changes in demand. ISS also attributes the stability of self-storage companies to the fact that self-storage business owners, unlike the REITs Kirby refers to, tend not to over-leverage their businesses -- they are more likely to keep their leverage within responsible limits. As a result, they are less vulnerable to sudden shifts in the market.... [More]