05.06.2023
In late 2022, former President Donald Trump’s attorneys revealed that they found two top level secret documents in a storage facility rented under Trump’s name near Mar-a-Lago. Although Trump had no legal right to leave the White House with any documents related to the presidency, the need for an external storage unit even if you live in a 126-room, 62,500-square-foot mansion with gold-plated sinks, is a characteristic American habit.
“Nearly 10 percent of the American people rent a storage facility. 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.”
Storage facilities is a billion dollar industry, one of the surest business investments in America. And the business only flourished in the pandemic when many thought of it as a dying business. During the COVID-19 pandemic, many Americans transformed their living spaces into home offices and gyms by clearing out bedrooms and garages. Some individuals left their apartments to live in cabins or returned home from college campuses. Businesses concerned about shortages rented extra space to store inventory. This high demand led to a decrease in availability and an increase in rental prices.
It's a common story - a family moves to a new place and rents a storage unit to keep things that don't fit in their new home. But as time goes by, they forget about it, especially if the rent is paid automatically. They may remember they have a storage unit somewhere, but they can't recall what's inside. And when they can't find something in their new home, they start wondering if it's hiding in the storage unit. It's like a game of hide-and-seek with their own belongings!
“Human laziness has always been a big friend of self-storage operators. Because once they’re in, nobody likes to spend all day moving their stuff out of storage. As long as they can afford it, and feel psychologically that they can afford it, they’ll leave that stuff in there forever.”
It may surprise you, but a significant number of storage units are eventually abandoned by their renters. According to Simply Self Storage, 155,000 storage units are auctioned off annually. There are even TV shows like Storage Wars and Auction Hunters that document this distinctively American trend. On average, each auction earns around $425 per unit, which adds up to a whopping $65 million per year for the industry. Eventually, someone will have to clean out the storage unit and decide what to do with its contents, either with care or without much thought. The reason why the owners of the stored items don't take the time to deal with them and cancel the contract is the same reason why they stored them in the first place - they don't know what to do with them. Some of the belongings are too valuable to part with, but the current home is already overflowing with possessions.
It's no secret that the United States has the biggest market for storage units in the world. Americans have a strong attachment to their possessions. You can spend a whole Saturday going from one street to the next and find driveways full of furniture, clothes, kitchenware, and other items that are still in good condition. These items are being sold, most likely to make room for new, equally functional things. It's a never-ending cycle of buying and storing, and it's a reflection of the American love for material possessions.
What’s funny to me is the amount of money people lose because of these storage facilities. There have been several examples in the past where notable celebrities have lost precious items just because they forgot to clear their rental dues.
James Bond’s submarine car from The Spy Who Loved Me was found in a storage locker on Long Island in 1989. The contents of that unit were bought at auction for $100. The restored car was later purchased by Elon Musk for $997,000 at a London auction. A NASA space flight countdown clock was found in a storage facility in Florida. The very first Superman comic book, Action Comic No. 1, worth $1 million, was found in a San Fernando, Calif., storage unit and returned to its rightful owner Nicholas Cage. A range of Burt Reynold’s memorabilia were found in an abandoned storage locker. The inventory included the canoe he famously rode in the film Deliverance, a bill of sale for Roy Rogers’ horse Trigger, and a framed letter from his doctor about Reynolds’ successful spleen surgery in 1955.
Just think for a moment what could have happened if Trump's financial team had neglected to pay the storage unit fees! Picture the next person who buys the unit going through the boxes, searching for valuable items, and suddenly coming across highly confidential information about foreign enemies, missile positions, spies - both friends and foes, and top-secret espionage missions, some of which involve our most trusted global allies. It's a scary thought and highlights the potential danger of storing sensitive information in an unsecured facility.
Here’s a funny piece to end today’s blog :)
See you next Saturday, Until then, have a great time :)
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