The Urow Magazine

A Note from the Founder 8.5 .2025

Fed Holds Rates Despite Internal Divisions and Political Pressure The Fed held rates steady for a fifth meeting in a row, despite officials disagreeing over the right time to restart cuts after an extended pause. The central bank kept rates...

Zachary Urow - August 2025

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A Note from the Founder 7.29 .2025

Self-Storage Rates Stabilize as Midwest Markets Take the Lead June 2025 saw national average advertised rates for self-storage tick up by 0.7%month-over-month, a stronger-than-usual gain for the summer season. Year-over-year rates performance held steady at -0.1%, a sign the sector...

Zachary Urow - August 2025

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A Note from the Founder 7.23 .2025

U.S. Inflation Data Shows Moderate Rise in June 2025 The Bureau of Labor Statistics reported a 0.3% increase in the Consumer Price Index (CPI) for June, the largest monthly gain since January. Annual inflation rose to 2.7% year-over-year, up from...

Zachary Urow - August 2025

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A Note from the Founder 7.14 .2025

ISM Manufacturing PMI Signals Potential Construction Challenges The ISM Manufacturing PMI fell to 49.0 in June, a sign of contraction in the manufacturing sector. This decline reflects slower production of construction materials such as steel, concrete, and HVAC components used...

Zachary Urow - August 2025

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A Note from the Founder 7.7 .2025

Job Market Stays Strong as Unemployment Continues to Fall Employers across the U.S. added 147,000 jobs in June, with the labor market remaining resilient despite slowing economic growth this year. The national unemployment rate fell to 4.1%, down from 4.2%...

Zachary Urow - August 2025

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A Note from the Founder 6.30 .2025

Core Inflation Rate Rose to 2.7% in May Core consumer prices increase 0.2% in May. This pushed the annual inflation rate to 2.7%, which remains above the Federal Reserve’s 2% target. Real personal spending declined 0.3% and personal income fell...

Zachary Urow - August 2025

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A Note from the Founder 6.23 .2025

Federal Reserve Holds Rates Steady The Federal Reserve held rates steady at 4.25%–4.5% as it monitors inflation and labor data. It was the fourth straight meeting without a rate cut, as Powell emphasized a data-dependent approach and noted elevated economic...

Zachary Urow - August 2025

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A Note from the Founder 6.16 .2025

Inflation Eases Slightly in May Consumer prices rose 0.1% in May on a seasonally adjusted basis, a slight deceleration from April's 0.2% increase. The annual inflation rate reached 2.4%, while core inflation, which excludes food and energy, rose 2.8% year-over-year....

Zachary Urow - August 2025

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A Note from the Founder 6.9 .2025

Labor Market Slows Despite May Gains, Rate Cuts Likely Delayed The U.S. added 139,000 jobs in May, which was above the expected 126,000. However, March and April figures were revised down by a combined 95,000 jobs. The unemployment rate remained...

Zachary Urow - August 2025

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A Note from the Founder 6.3 .2025

Self-Storage Market Trends Show Stabilization In Q2 2025 National self-storage rents declined by just 0.4% year-over-year in April 2025, with signs of sequential improvement and strong spring leasing activity. Chicago and Tampa recorded the highest annual rent growth among major...

Zachary Urow - August 2025

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A Note from the Founder 5.28 .2025

Economic Indicators Drop, But No Recession Signal Yet The Leading Economic Index (LEI) dropped by 1.0% in April. This was the largest decline since March 2023 and marked the fifth consecutive monthly decrease. Most components of the index showed a...

Zachary Urow - August 2025

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A Note from the Founder 5.19 .2025

Inflation Shows Signs of Cooling, But Core Prices Remain Elevated The U.S. Consumer Price Index (CPI) grew 0.2% in April 2025 and reached an annual inflation rate of 2.3%, the lowest level in four years. Core inflation, which excludes food...

Zachary Urow - August 2025

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A Note from the Founder 5.12 .2025

Fed Keeps Rates Steady and Flags Uncertainty About the Economy The Federal Open Market Committee (FOMC) kept rates steady at 4.25% to 4.5%in May 2025. This marks the third straight meeting without a change. Fed Chair Jerome Powell described the...

Zachary Urow - August 2025

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A Note from the Founder 5.5 .2025

Self-Storage REITs Show Stability with Mixed Q1 Results Public Storage (PSA) reported Q1 FFO of $4.12 per share. The result exceeded expectations, although same-store occupancy declined by 0.6%. Extra Space Storage (EXR) posted Q1 FFO of $2.00 per share. Same-store...

Zachary Urow - August 2025

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A Note from the Founder 04.28 .2025

Positive Analyst Ratings Highlight Strength in Self-Storage REITs Bank of America analyst Jeffrey Spector upgraded Public Storage to “Buy” and Extra Space Storage to “Neutral”, citing an 8% decline in new development and sector resilience. Public Storage holds the lowest...

Zachary Urow - August 2025

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A Note from the Founder 04.21 .2025

U.S. Economy Shows Steady Momentum Major banks, including American Express and U.S. Bancorp, reported strong Q1 2025 earnings, driven by robust consumer spending and stable credit conditions. 70% of S&P 500 companies that have reported Q1 earnings have beaten estimates,...

Zachary Urow - August 2025

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How Market Knowledge Can Shape Decisions in Developing or Expanding Boat & RV Storage Facilities

The Need for Market Knowledge Recreational vehicle and boat storage is rapidly growing. Nearly 1,800 specialized boat and RV storage facilities operate in the U.S., which is more than twice the total number of facilities from just a few years...

Zachary Urow - August 2025

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Q2 2025 Self-Storage REITs Report

OVERVIEW Self-storage REITs continued to show resilience in Q2 2025, with signs of gradual stabilization across key operating metrics. While challenges from elevated expense growth and flat revenue trends persisted, operators sustained high occupancy and generated consistent Funds From Operations...

Zachary Urow - August 2025

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Q1 2025 Self-Storage REITs Report

OVERVIEW Self-storage REITs entered 2025 following a year of normalization. After record-high occupancies and double-digit rent growth during the pandemic, the sector saw a pullback in late 2023 as pricing power softened and expenses rose. However, Q1 2025 signals a...

Zachary Urow - May 2025

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A Note from the Founder 04.14 .2025

Jamie Dimon’s 2025 Shareholder Letter Flags Economic Risks

Zachary Urow - April 2025

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A Note from the Founder 04.07.2025

Street Rates Climb as New Construction Slows The national average street rate rose 0.3% in March to $16.42 per square foot. The increase marks a second consecutive month of growth. Rents rose month-over-month in 26 of the top 30 U.S....

Zachary Urow - April 2025

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A Note from the Founder 03.31.2025

Self Storage Demand Concentrated in the West and Urban Metros 59 of the top 100 metros for self storage demand are in the West, led by Las Vegas, Phoenix, and Salt Lake City, driven by growth, downsizing, and high renter...

Zachary Urow - April 2025

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A Note from the Founder 03.24.2025

Federal Reserve Maintains Policy Rate The Federal Reserve decided to keep rates steady at 4.25%–4.50% during its March meeting, choosing to wait for more data before making changes. Economic growth is now expected to slow to 1.7%, while inflation is...

Zachary Urow - April 2025

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A Note from the Founder 03.18.2025

Bridge-to-Bridge Refinancing Trends In the current constrained capital markets, bridge lenders are refinancing existing bridge loans without requiring principal paydowns, provided there's a clear path to achieving debt service coverage. This practice helps maintain liquidity for borrowers, but may postpone...

Zachary Urow - April 2025

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A Note from the Founder 03.11.2025

Layoff Announcements Reach Highest Levels Since 2020 In February, U.S. employers announced 172,017 planned layoffs, more than doubling January's total and marking the highest monthly figure since mid-2020. The Department of Government Efficiency (DOGE), led by Elon Musk, directed 17...

Zachary Urow - April 2025

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A Note from the Founder 03.03.2025

Consumer Confidence Declines Amid Economic Uncertainty The Conference Board’s Consumer Confidence Index fell to 98.3 in February, a 7-point drop and the largest monthly decline since August 2021. The Expectations Index, reflecting consumers' short-term outlook, decreased to 72.9, dipping below...

Zachary Urow - April 2025

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The Rise of Class A RV & Boat Storage

Introduction RV and boat ownership surged during the pandemic, and in 2025, demand for these vehicles remains strong. The RV Industry Association reports a 21.9% increase in shipments year-overyear as of January, while the National Marine Manufacturers Association notes continued...

Zachary Urow - April 2025

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A Note from the Founder 02.24.2025

Top 10 Markets for Self Storage Deliveries in 2024 In 2024, the Dallas-Fort Worth metroplex topped the list with 2.6 million net rentable square feet of self-storage space delivered, accounting for 4.5% of the area's existing inventory. Atlanta and Orlando...

Zachary Urow - February 2025

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A Note from the Founder 02.17.2025

How New Drivers Are Shaping Self-Storage Demand Traditional self-storage demand drivers—Downsizing, Disaster, Divorce, Death, Displacement—have now expanded to include Distribution, reflecting shifts in consumer, and business needs. The rise of e-commerce and small business growth has driven demand for self-storage...

Zachary Urow - February 2025

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A Note from the Founder 02.10.2025

2025 Industry Trends: Modular Construction and Sustainability Modular construction is on the rise, offering faster project completion, lower costs, and reduced waste as components are prefabricated off-site and assembled on-site. Sustainability is a top priority for 2025, with materials like...

Zachary Urow - February 2025

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A Note from the Founder 02.03.2025

The Changing Shape of Self-Storage Lending Despite consumer prices dropping by 2/3 from their post-pandemic peak, inflation remains above the Fed’s 2% target, prompting continued monitoring of economic conditions. Policymakers are assessing how current borrowing costs impact growth, signaling that...

Zachary Urow - February 2025

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Top 5 Self-Storage Trends to Watch in 2024

Top 5 Self-Storage Trends to Watch in 2024 Author: Margo Masserman The self-storage industry has been evolving rapidly, driven by changes in consumer behavior, technological advancements, and market changes. As we move into the 3rd quarter of 2024, several key...

Zachary Urow - July 2024

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The Rise of Mobile Self-Storage: Is It Here to Stay?

The Rise of Mobile Self-Storage: Is It Here to Stay? Author: Margo Masserman In recent years, the self-storage industry has seen a significant transformation with the emergence of mobile self-storage solutions. This innovative approach to storage offers unparalleled convenience and...

Zachary Urow - July 2024

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How Economic Changes in 2024 Are Impacting the Self-Storage Industry

How Economic Changes in 2024 Are Impacting the Self-Storage Industry Author: Margo Masserman The self-storage industry has traditionally been resilient, even during economic downturns. However, recent economic changes are creating both challenges and opportunities for this sector. Understanding how these...

Zachary Urow - July 2024

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Maximizing Occupancy Rates: Proven Strategies for Success in the Self-Storage Market

Maximizing Occupancy Rates: Proven Strategies for Success in the Self-Storage Market Author: Margo Masserman Achieving high occupancy rates is a critical goal for any self-storage facility. Not only does it ensure steady revenue, but it also signifies a thriving business....

Zachary Urow - July 2024

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Self Storage Market Recap

Self Storage Market Recap As the busy summer leasing season approaches, storage operators are remaining optimistic that existing customer rate increases will help new customers settle into in-place rates quickly, in addition to increasing street rates. Although the self storage...

Zachary Urow - May 2024

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Self Storage Market Recap

Self Storage Market Recap The ISS World Expo and Toy Storage Nation Workshop took place in Las Vegas earlier this month. Here, presenters emphasized the challenges within the market including unclear pricing, difficulty obtaining financing, and plummeting street rates -...

Zachary Urow - April 2024

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Street Growth Update

Street Growth Update Overview Self-storage owners and operators are cautiously optimistic for 2024, with occupancy and asking rates stabilizing after a period of rapidly decelerating growth. The transaction market is anticipated to pick up in the second half of the year....

Zachary Urow - February 2024

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The Impact of New & Lease-up Supply

The Impact of New & Lease-up Supply Overview Self-storage owners and operators are cautiously optimistic for 2024, with occupancy and asking rates stabilizing after a period of rapidly decelerating growth. The transaction market is anticipated to pick up in the...

Zachary Urow - February 2024

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Strongest Storage Demand Growth States

Storage Demand Growth States U-Haul's 2023 annual top growth states report highlighted shifts in migration patterns across the United States. Texas, for the third consecutive year, maintained its position as the #1 growth state. The Southeast had a very strong...

Zachary Urow - January 2024

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The Fed’s Looming Rate Cuts

The Fed's Looming Rate Cuts Fed Recap The Federal Reserve decided to pause on increasing rates on December 13th, 2023 and to keep them between 5.25% to 5.50%. While the fight against inflation persists, the Fed anticipates initiating three rate...

Zachary Urow - December 2023

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The Fed’s Impact on CRE Values

The Fed’s Impact on CRE Values Fed Recap The Federal Reserve decided to pause on increasing interest rates on June 14th, 2023. Since March of 2022, the Fed significantly increased the federal funds rate from 0.25% - 0.50% to 5.00%...

Zachary Urow - June 2023

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2022 Review and 2023 Outlook

2022 Review and 2023 Outlook 2022 REVIEW Although commercial real estate transaction volume in 2022 was the second highest on record, it decreased by double digits in the latter half of the year compared to 2021’s transaction volume. 2021 had...

Zachary Urow - February 2023

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